Marc Faber a well respected financial analyst probably correctly points out that we will be moving into a phase of hyperinflation in the next five to 10 years due to the massive deficit spending and borrowing; which will interject huge sums of increasingly devalued currency into the economy.
You can read the article at CNBC by clicking here. I highlight this not because it is surprising news but rather that an increasing number of economists are making these predictions but they continue to fall on the deaf ears of the majority party in Washington.
This is a somewhat frightening apparition to many of us as only a relative few times in our history have we been presented with such a power mad leadership which is so economically dumb.
It not a surprise to get some government economists to say practically anything that puts them in a position of wealth and power or to be around those in positions of wealth and power.
The same thing holds true for global warming, as we've opined here before scientists are no different than gold prospector's -- they go where the gold is located.
If there are research grants and fellowships along with media attention than some scientists feel it getting hot already; same holds true for economists where long-term truth is easily sacrificed for short-term gain. Any citizen with the practical experience of earning a living in the private sector can tell you that borrowing enormous amounts of money with the expectation that you will get a raise in two or three years and pay it back, is essentially the directions to the poor house.
