East Coast Economic Update for November 20, 2009!
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Hyperinflation. Germany printed money, we loan money - big difference. Money is continually returning to its origin in the form of principle plus interest. All the billions that were given to the banks do nothing to the money supply until it gets into the hands of spenders through loans - not happening at any massive rate, infact, commercial and consumer loan rates are decreasing. You could create 20 trillion - if it sits in a bank it does nothing.
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A majority of Americans are Germans. Yikes...
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!!!
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Good advice. I gave up trying to become "successful" years ago, once I realized the deck was stacked against me. Just want to be debt-free and have opportunity.
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Price freezes don't work either - always result in shortages. Free market prices are the only thing that works. That's not to say they (gov) won't try that, however.
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I think you're right about it ending globalization, but don't assume the governments and elite of the world will give up on it just like that. It's what they fought for for decades. Expect a long drawn out death spiral of 10 years or more for your forecasts to come true, barring any major sudden catastrophes that is. No matter what this doesn't bode well for this country especially the middle/lower classes.
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Thank you for the news and insight!
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Thanks...I will.
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The long legged mack daddy will save me
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Okay, I just checked, it is true about Societe Generale. It's headlines here in France this morning, Saturday, November 21, 2009.
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ok say you are right. 40? What will a gallon of gas be then?
MrBankRuns 2 years ago 3
Didn't realize you had so many people busting your chops John. You are doing such a WONDERFUL job of reporting on the economy, news, current events, etc. I appreciate all the time and effort you put into making your videos, my favorites being the east coast economic updates and the homesteading ones from the cabin. Bless you my friend!
blueeggsitter 2 years ago 2