Friday, March 5, 2010

The Coming Runaway Inflation

by Robert J. Ringer

Ringer is a year or two early in his warning, but he is only off on timing. He's very accurate on what is coming down the road-RW

I had a long visit a few days ago with a Republican Congressman, who assured me that even if the Republicans win back both the House and Senate in 2010, government spending will continue unabated. He agreed with me that, with few exceptions, Republicans are as lacking in courage as Democrats.

But he also made one other point that I thought was significant. While BHO and a handful of far-left Congresspersons are driven by ideology and really do want to see the U.S. transformed into a socialist (if not communist) state (apologies to Bill O’Reilly, who ”doesn’t believe for a second that Barack Obama doesn’t have the best of intentions for his country”), most are simply ignorant.

That’s right, even though they are involved in government and economic issues every day, they simply do not have an in-depth understanding of what they are doing. It’s so easy to keep saying yes … Yes … YES to spending programs without worrying about how the bill will ultimately be paid.

What does this all mean? That the runaway inflation scenario I’ve been predicting for more than thirty years is now a certainty. The game is over. Our unfunded liabilities and debt now total twice the amount of wealth of all individuals and corporations in the U.S. And BHO and his socialist allies in Congress are just getting started!

Read the rest here.

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