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Prepare for Fiscal Doom

johnm h Wrote: Nov 15, 2012 7:32 AM
Stagnation is more likely than a fiscal cliff. The Obama administration will use illegal unilateral regulatory power to continue to take over the economy. The Fed can continue to finance it as long as the economy doesn't rebound strongly. It won't and they know it. Economic growth isn't the goal. The goal is power. At the end of the day big corporations that can buy waivers and subsidies will do fine. Small and tiny business will decline. That's what corporate states do.
Chris from Kalifornia Wrote: Nov 15, 2012 7:42 AM
Yep Get ready for four years of Stagflation. Just like when Jimmy Carter was president only worse.

OK, perhaps doom is too strong a word, but then again, perhaps it is not. 

In either event, 2013 is not shaping up to be a banner year for the economy. And it’s not just or even mostly because of the fiscal cliff.

Our financial system is not stronger now than it was in 2008 when it finally collapsed under the weight of crashing real estate prices that fell all the harder because they were ballasted by plenty of government guaranteed debt.

In fact, prepare right now for the Next Great Bailout. Because this time around, the federal...