In response to:

About That Fiscal Cliff

Corbett_ Wrote: Nov 21, 2012 11:37 AM
Lois, the depression is closer than you think. Hyperinflation is right around the corner. The Fed is already printing like there is no tomorrow. They have to keep printing at this rate or higher in order to keep interest rates down. If interest rates rise, then the entire federal income will not be enough to pay the interest on the federal debt. At this point, hyperinflation is the only option open to the government.
Yikes, we're headed toward a fiscal cliff! It will crush the economy! Or so the media and politicians tell us.

The "cliff" is a series of tax increases and budget cuts that automatically go into effect Jan. 1 unless Congress acts.

Will Congress act?

It will! I see the future: The politicians will meet and fret and hold press conferences and predict disaster. Then they'll reach a deal.

It will just postpone the reckoning, but they'll congratulate themselves, and the media will move on.

America, however, continues to go broke.

"They're not going to admit that we're bankrupt, and they won't...