Doing his impression of Al Gore’s Inconvenient Truth, journalist Glenn Beck illustrates the looming danger of hyperinflation due to the ongoing government bailouts:
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Hi there!
I was browsing the blogosphere looking for people with similar interests that want to be friends – in a blogging kind of way, so I stopped to say hi!
Wishing you happy bloging and the best in your life.
BoH
…”doing this to our children is immoral,” there’s that morality thing again.
It’s hard not to believe the general populace isn’t aware of what is going on. But it is hard to believe why we let the powers that be keep doing what they’re doing with the world’s money. Except of course the people in Greece, Iceland, France, maybe Thailand too, they’ve let ‘em know they’re none too happy with what’s going on.
This whole money creation, bailout thing takes on a different feel when you watch Beck get on that lift to reach to the top of the chart to show where the money supply is today.
Let the bankrupt system go bankrupt, clear the resulting debris to allow us to re-invent ourselves a value based economy of ethics, equity and harmony.
^ I think we should stop being afraid of the word: moral or morality. By virtue of living, we are already adopting a moral code, whether we realize it or not. And moral codes are not the sole province of religious or mystical beliefs. Witholding moral judgment is what gets us to sanction decisions and events like this. Maybe the key question is: what moral code to adopt?
Yes, unprecedented inflation–arguably the whole growth of the U.S. economy has been inflationary. The decades-long rise in stocks was concurrent with the rise in money supply. The price has simply been crashes that happen every ten or so years that have been increasing in scale and magnitude. It’s the same formula being adopted again and again–and only because of the belief that the system “rights itself” eventually.
What I don’t hear enough from the opposition are concrete alternatives–and more than this, concrete analysis of the ramifications: the positive, but especially the negative ones.
Simply allowing failing companies to disintegrate along with the existing economy… that’s easier explained on paper than in practice.