I hear ya but they can still screw this up. I was looking at the LA Times article in the context of what was said in the Barons article
“Now that the president, however tentatively, is officially on board, the bailout bandwagon is sure to pick up speed, volume and passengers, particularly with an election year looming. That could mean, as the sharp rise in the price of gold, up over $7 an ounce on Friday, gives fair warning, a rash of fiscal fecklessness, fresh debasement of the dollar and that most unenviable of economic combinations — no growth and inflation.”
The media is getting on board with the bailout manifesto and they are going to march us into a much bigger mess. I agree with your stagflation repeat 1974-1982 all over. Sweeping this problem under the rug will not help. The only solution is to let the markets clean it up but that is going to take a while 18-36 months. Politically speaking Stagflation, while being horrible and the wrong choice, is the easy way out. Things are going to suck for a long time. With that said I’m going to the beach and enjoy the rest of my Labor Day weekend 🙂
