Tuesday, May 18, 2010

Hyper Inflation in the USA?

I found this documentary on our economy informative: http://www.youtube.com/watch?v=eb1n1X0Oqdw

I wouldn't ignore that there could be some sensationalism in the film to try and sell gold, but in spite of that I think the material in it is solid. Essentially, it's stating our economy hasn't recovered from the recession, any sign indicating that we have recovered is actually just inflation occurring, and our country can either make some radical changes now to cut spending and prevent the economic collapse and hyper inflation, or be forced to make some radical changes after our economy collapses.

I'd encourage everyone to watch at least the first 10 minutes and evaluate whether or not you wish to invest a full 55 minutes of your life to watching the whole thing.


Jake Jacobsen said...

I've been saying similar things for a while now. Of course, people such as Ayn Rand and Ezra Taft Benson have been warning of just such an impending crisis for a while now, but those warnings have gone unheeded. Back when programs such as Medicare and Social Security were implemented, many people believed that they would ruin the country. Just before the health care bill was passed I heard people actually say that there were people who opposed Medicare because it would ruin the country, but that hasn't happened, so neither will the health care bill. But a very large chunk of our debt comes from Medicare and is doing exactly what those against it said it would, and now we are adding to our debt faster then ever while stifling businesses at the same time.

It may have taken 50 years of ignoring those warnings to get to where we are now, but I'm really afraid that I will see a depression greater than the Great Depression in my lifetime. Though, I also don't think it's too late to stop hyper inflation, but the solution is very painful. And the Obama administration seems to think that the best way to deal with this crisis is to ignore it. Scary.

Here's an article that you might be interested in that points out our similarities to Greece.


Tim Harper said...

Excellent article, Jake. Thank you very much sharing it.