This film attempts to explain what a “wonderful” thing inflation is. It is the predecessor to the printing press/helicopter strategy.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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December 6th, 2008 at 9:39 am
Quaint…almost reminds you of the old “Reefer Madness”….
December 6th, 2008 at 9:59 am
I love the line “And wages will go up”
Unless we find we can offshore your job for .50 on the dollar or bring in H1-B Visa employees to America.
December 6th, 2008 at 10:18 am
its like, magic!
December 6th, 2008 at 10:21 am
This was a fabulous plan…it worked for 74 years of prosperity. You could have been born in 1933, died an old age, and thought this was the greatest plan ever! Now we are stuck with the tab, as they went a wee bit too far and saddled us with 10 trillion in debt.
December 6th, 2008 at 11:17 am
I remember reading somewhere that during the depression there was a gov’t sponsored marketing campaign to stimulate consumer spending with slogans like “Save a dime, cost a man his job!”. Was this part of it?
As Steve Barry points out it worked all too well. Will our current buy, buy, buy culture once again shift to a save, save, save culture? Barry seems skeptical but it has happened before so it can, and IMHO will, happen again.