I saw that the credit card situation was only a tenth of the monetary amount. Just indicating that it will be another crack in the dam, cause more money to be printed, and have a pyschological effect. Not to mention the broken credit of those who default.
I know the Fed and govt. are determined to do all necessary, it's just that it will lead to inflationary pressure and a partial socialization of the financial institutions, with the possible lowering of our sovereign credit rating; even while deflation and the flat-lining of stocks portray a large piece of the picture as well. Will the government go too far?
Think you hit it yesterday when you mentioned the face off between deflation and inflation. It's just that when you consider Europe too is now printing currency to protect their own system, it all adds up to huge amounts of paper money. How secure is the backing of both systems? Unlimited because of their basic economies and natural resources? Or iffy because of the eventual devaluation of the currencies and and lowering of debt ratings?
Still think the little guy gets screwed the most, due to higher prices for essentials as we move forward with either Presidential candidate.
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