Friday, August 17, 2007

Have I been correct all along?

As of the date of this writing, Wall Street stocks have dumped by about 10% over the last month, most of it the last week. The cause is multi-faceted although the blame has centered around the collapse of the home mortgage lending market. We have to blame something in particular because we lost the ability long ago to address the bigger picture. Most of the real problem is inflation. We've lied about it and been lied to, much like the weapons of mass destruction and Saddam Hussein. So is this the real thing? I doubt it. Although the real thing is like an unseen hurricane off shore and out of sight building strength to obliterate everything when it comes ashore. Our Government has done what it always does in answer to any domestic problem. It has printed brand new stacks of money and handed it out to those who will first steal all they can before the ink is dry, then flood the rest into our dying economy to feed the illness that will decimate it completely.
My prediction? Runaway inflation that we will be lied to and lie about until this crippled economy can no longer stand. When? Don't know. If nothing sensible is done, maybe a year.........

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