Obama: Do What the Communists Say, Or Else
by tdaxp ~ November 18th, 2009
Its not a coincidence that Obama starts repeating the Chinese Communist Party’s line on America’s debt while visiting Communist China.
Too bad that he doesn’t mean it.
You only need three years of 10% inflation to cut our debt to Communist China in half.
November 19th, 2009 at 4:25 pm
Shudder.
“You only need three years of 10% inflation to cut our debt to Communist China in half…”
That would also devalue my savings. Once again punishing those Americans who did right actions (lived beneath their means) while benefiting those who lived above their means. I am sure the BigBiz/BigGov elites (the new Vanguard) will come out okay.
I am in a funk right now about the direction America is going.
November 19th, 2009 at 4:29 pm
[...] direction America is going” Posted on November 19, 2009 by purpleslog So I comment here at TDAXP [...]
November 20th, 2009 at 5:57 am
Inflation could also be sold as a jobs measurement — it “punishes” savers while “rewards” those who already have debt.
If you’re in a funk about this, I better not mention the T-bill rate is once again negative [1] and the FHA is (illegally [2]) sparking a another round of speculation in real estate [3].
[1] http://www.calculatedriskblog.com/2009/11/on-negative-t-bills.html
[2] http://www.calculatedriskblog.com/2009/11/fha-reserves-fall-sharply-well-below.html
[3] http://www.calculatedriskblog.com/2009/11/more-on-fha-loans.html
November 20th, 2009 at 6:31 am
Oh for a 10% annual rate of inflation!