I worry about my friends and family, more than myself. I especially worry about my girlfriend. I think at some point in the next few years I will lose my job, but I can’t tell when. Right now my company is doing pretty well.
I like the tsunami analogy. However the question in my mind is one of confidence. In order to get people to borrow, you have to get them to believe that its in their interest. The deflation can’t be easily stopped like it was in the 30’s with a devaluation against gold, our currency isn’t tied to gold. You must fight a much harder battle, like the Japanese. Do I think we will endure 10 lost years and 10 partially lost, no. As you all can see from the ruptures in our public marketplaces, we aren’t that good at covering up the bodies! What will get people borrowing again?
In my mind it would have to be something like alternative energy mandates, though those have their own costs. Another option would be a wholesale replacement of the US dollar with a new Amero, though thats pretty far fetched. The wealthy wouldn’t like that one bit.
