Hello everyone,
Does anyone on here believe that the US will actually fall off the fiscal cliff?
Goodguy
Does anyone on here believe that the US will actually fall off the fiscal cliff?
Goodguy
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Fiscal cliff
- Thread starter goodguy1977
- Start date
Hello everyone,
Does anyone on here believe that the US will actually fall off the fiscal cliff?
Goodguy
congress is gonna do what they always do, they will reneg on the agreement and cancel the spending cuts
Not a chance!!! They have a history of printing money when they are in trouble, why stop now!!!!
Printing money is inflationary and ultimately leads to hyperinflation. The reality is that we live in a fiat based currency system and have since Nixon took the World off the Gold standard. If all you have to do is print money you can conduct all the Wars you want. The rest of the World realizes that if they no longer buy US Treasuries, the US can not finance the War machine that ultimately gets used against the planet. Now the US has to monetize there own debt. This is a ponzi scheme and unfortunately, it's coming to an end.
BS
Printing money is inflationary and ultimately leads to hyperinflation. The reality is that we live in a fiat based currency system and have since Nixon took the World off the Gold standard. If all you have to do is print money you can conduct all the Wars you want. The rest of the World realizes that if they no longer buy US Treasuries, the US can not finance the War machine that ultimately gets used against the planet. Now the US has to monetize there own debt. This is a ponzi scheme and unfortunately, it's coming to an end.
BS
ha, you should head over to the political forum. apparently im a moron for believing the fact endless money printing leads to hyperinflation
Printing money is inflationary and ultimately leads to hyperinflation. The reality is that we live in a fiat based currency system and have since Nixon took the World off the Gold standard. If all you have to do is print money you can conduct all the Wars you want. The rest of the World realizes that if they no longer buy US Treasuries, the US can not finance the War machine that ultimately gets used against the planet. Now the US has to monetize there own debt. This is a ponzi scheme and unfortunately, it's coming to an end.
BS
the entire world economy is a giant ponzi scheme. based on infinite growth. I think its catching up to us.
I think it's dependent on a few factors: the biggest among them is the results of the November election. If Obama wins, the Republicans are hell bent on embarrassing him and it's possible the US markets will get a near death experience.
My feeling is that we hit a fiscal cliff in 2008 when the Fed bailed out the TBTF Banks. They should have let them fail. Yes it would have sent us into a nasty recession but the recovery would have been well under way. But we didn't. Now 4 years later the problem is 100 X worse. I read a number the other day that these TBTF Banks have over a Quadrillion dollars off book in derivatives to unwind. Thus the latest announcement by the Fed of a $) Billion Dollar per month QE forever. To put that in perspective. The GDP of the World last year was around 63 Trillion. And the Banks are holding a QUADRILLION off book.... yikes !!!!!
BS
