I'm just about as conservative as they come, but even I am fed up with the Beck/Hannity/Rush fear-mongering trifecta. Let's just take Beck for now. He's on tv blathering about how nobody has confidence in the dollar, nobody will buy treasury's, and hyperinflation is coming next week. Bullshit.
I'm not saying that hyperinflation and a collapsing dollar are out of the question, but they're not in the cards anytime soon. The dollar is at a multi-year high and deflation is the worry of the day. The yield curve is flat, and commodity prices are in the crapper. China doesn't own the US, not even close, and the TARP money could have bought all Chinese-held treasurys 1 1/2 times; but if you listen to Beck they hold all 13 trillion dollars of US debt.
I'm sick of him and all of his fear-mongering friends on both ends of the political spectrum. We're not in a Depression, and we won't be unless Beck & Co. manage to talk down the economy to the point that everybody thinks we are. Perception is reality, and he ain't helping our cause.
I'm not saying that hyperinflation and a collapsing dollar are out of the question, but they're not in the cards anytime soon. The dollar is at a multi-year high and deflation is the worry of the day. The yield curve is flat, and commodity prices are in the crapper. China doesn't own the US, not even close, and the TARP money could have bought all Chinese-held treasurys 1 1/2 times; but if you listen to Beck they hold all 13 trillion dollars of US debt.
I'm sick of him and all of his fear-mongering friends on both ends of the political spectrum. We're not in a Depression, and we won't be unless Beck & Co. manage to talk down the economy to the point that everybody thinks we are. Perception is reality, and he ain't helping our cause.

Comment