Ignoramus11155 wrote:
On 2008-09-18, Karl Townsend wrote:
Yep fridays are to be known as bank failure day.
The clanking noise in the back of your mind is the feds
printing press's running nonstop...a new twist to
the common question "Paper or Plastic?" ;-) ED
This is the part that really scares me. I think we're going to get inflation
worse than the 70s. But this time around, wages won't be going up with the
inflation.

I think so, too. The deficits are very difficult to reduce, and will
only be financed by inflationary means. To add to this, our debt is
denominated in our own currency, so debasing it would instantly reduce
the economic value of the debt. Very tempting.

Of which the classic case is Germany, 1923. We all know what that led to.