Economy
Related: About this forum"Are you ready for this Once-in-a-Lifetime Crash?" Top Economist warns
FiveFifteen
(85 posts)Trash it.
bucolic_frolic
(54,419 posts)Once the currency is devalued - and it's underway in a free-market way as we speak - the whole debt bubble implodes. It's a plausible theory, and Irving Fisher was no Marxist wackadoodle. His views were simply overlooked by bank apologists like Bernanke.
Klarkashton
(5,016 posts)This goddamn fuse with all of his shit. The billionaires will give up on juicing the stock market and take their winnings.
Prove my sorry ass wrong.
usonian
(24,023 posts)Hugin
(37,584 posts)Seems to be the gist of it.
ramapo
(4,775 posts)One of these days one of these predictions will be correct. I thought the foundation of economic well-being began to develop holes decades ago. It has been propped up by a distortion of credit and easy money which has led to a devaluation of our money, crippling inflation that has crept up on us, a hollowing out of the middle class, financial gimmicks, delusional cheerleading and basic ignorance.
It has gone on for too long, defying logic and the weight of an upside down economy where the money flows from the poor to the rich. What was advertised as trickle-down economics to benefit all has actually been a trickle-up to benefit the few. Propaganda has been very successful in not only maintaining but growing the rich elite at the expense of almost everyone else.
This might go on for months, years or longer ...until it can no longer.