re: The "powers that be" will have to inject monstrous stimulus in order to right the ship and not sure that will do it for any extended period
My comment: I'm sure the CBs would like to be able to stave off a major economic downturn, but the only stimulus they have is printing (ie buying up assets). But in doing so they risk destroying their currencies against hard assets such as PMs and non-industrial commodities. If all CBs stimulate by printing, the relative value of the currencies may not change much, but their purchasing power will. And there's no room for more fiscal stimulus given the tax cuts and the very real prospect for much higher deficits in a recession. It's payback time for all of the foolishness originating from the CBs over the past 30 plus years. The real problem is and always has been the huge amount of debt at all levels. I think the Christmas shopping will be muted even though there are a lot of Black Friday idiots out there now. And once layoffs start, it will be like a snowball rolling down hill. How did we ever get to such extremes ?
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