From the Wall Street Journal "Fed Officials Mull Inflation as a Fix".
That will end well, won't it? Let's destroy the savings of the thrifty, moral, hard-working people to make things better for the lazy and profligate.
And what the Fed can't screw up, $100-a-barrel oil might.
I'll say it again, the government cannot afford deflation. They will not allow it to happen if they can help it.
Gallup reports the unemployment rate at 10.1%. The ADP analysis also suggests the unemployment rate has climbed in the last month. New UI claims are holding steady in a narrow range around 450,000 weekly. "Official" unemployment numbers are due out tomorrow. Gallup suggests that the government numbers may understate the rate. I suspect things will be "revised upward" after Election Day.
And then there is No Way Out of the Greater Inflationary Economic Depression from the Market Oracle. Casey makes some good points. It is inconceivable that the U.S. government would ever go broke, but I do like his analogy of the Financial Asteroid Strike. I don't think there's one in the immediate vicinity, but I think the economic equivalent of the Tunguska Event is certain given enough time.
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