Re: The Government Debt Crisis: Michael Snyder

Writes Tim McGraw:

The Government Debt Crisis: Michael Snyder

Compound interest is stronger than any force in the universe. There is no escape from mathematics. I suppose the government could default on the debt, but it will probably use inflation to liquidate the debt. My guess is that the dollar loses another 60% of its value.

The Great Inflation of the 1970s.

The average cost of a home in 1970 was $17,000. In 1983 the average cost of a home was $90,000. The stock market lost half of its value.

So, here we go again. The idiots in DC never learn anything. They are crooks. They literally think that money, real money, comes from a computer in the Eccles Building (Fed). Congress believes there is a goose in there laying golden eggs (digitally).

I went through this inflation/recession in the 1970s and the Depression of 1980-82. It was no fun and I was in my twenties. Now I’m over 70 and do NOT want to go through it again but here it comes.

 

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