The epitaph of the Bush Presidency should be this, for the deluge of dollars awaits us.
Our Washington fools believe that the "credit crisis" came from not enough money, and now add priming to the pump. The credit crisis was merely when the bar bill came due, and the price of continued credit financing outpriced what the wise entrepreneur would pay for it. During good times, one can pay handsome (extortionate) prices for money, for one can return it at the same rate from one's business profits. Now, people realize that they can't. Hence, the "Credit Freeze."
The dollars will flood us, drown us. China and the rest of the world are longing to "return" overseas dollars. Your paltry tens-of-thousands worth of savings will be worth squat, when the price of land in suburbia hits $100,000 per empty lot.
China, now, is expected to re-boom the world by CONSUMPTION as well as production. Ha. Let's see how THAT bubble goes.
Sunday, July 19, 2009
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