Fisher Storms on the Horizon Part 15 of 18
Fisher Storms on the Horizon Part 15 of 18
No combination of tax hikes and spending cuts, though Magical Forex Trading, will change the total burden borne by current and future generations. For the existing unfunded liabilities to be covered in the end, someone must pay $99.2 trillion more or receive $99.2 trillion less than they have been currently promised. This is a cold, hard fact. The decision we must make is whether to shoulder a substantial portion of that burden today or compel future generations to bear its full weight.
Now that you are all thoroughly depressed, let me come back to monetary policy and the Fed.
It is only natural to cast about for a solutionany solutionto avoid the fiscal pain we know is Earn $70 Per Sale With The Forex Trend System! necessary because we succumbed to complacency and put off dealing with this looming fiscal disaster. Throughout history, many nations, when confronted by sizable debts they were unable or unwilling to repay, have seized upon an apparently painless solution to this dilemma: monetization. Just have the monetary authority run cash off the printing presses until the debt is repaid, the story goes, then promise to be responsible from that point on and hope your sins will be forgiven by God and Milton Friedman and everyone else.
Posted: June 11th, 2010 under Financing.
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