Could the Weimar Hyperinflation Happen Again in America?

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Old Sep 30, 2009, 10:49pm   #288
 
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montmorencyt2w started this thread US On The Road To Zimbabwe - Commodities News - Oil - Gold - Metals - Grains - Quotes - Managed Futures
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Old Sep 30, 2009, 11:16pm   #289
 
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So True

Nice find Mike.

This is a wake-up for many who think it cannot happen.

My view is that as soon as they attempt to soak up that almost USD$1trillion, the people will rebel.

It will not be a violent rebellion. It will be an economic rebellion that will first begin in the black market (no pun intended on Zimbabwe) as people defy the gov'ts attempts to control prices. We saw a single hen's egg being sold for Z$15 and a small pumpkin for Z$130.

After the black market gains the upper hand, suppliers will abandon the regular marketplace, opting for the greater profits to be had outside the controlled system.

It is that simple.

And "they" won't see it coming.

Like any train that has gathered momentum, it will not be stopped by a little bald man standing on the tracks holding up his hand as a stop signal!

Good luck with that, Ben!
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Old Oct 3, 2009, 8:38am   #290
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"The Labor Department today also published its preliminary estimate for the annual benchmark revisions to payrolls that will be issued in February. They showed the economy may have lost an additional 824,000 jobs in the 12 months ended March 2009. The data currently show a 4.8 million drop in employment during that time."

Bloomberg.
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Old Oct 3, 2009, 8:54am   #291
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"With that, what are the chances of seeing a double dip recession at some point along the way? Back in 1937 (when the economy was in the process of recovery from the great Depression), Congress and President Roosevelt decided the thing to do was to balance the budget, which had gotten terribly out of whack as the government ran large deficits and pumped money into the system just as it’s doing now. So, they raised taxes and created another recession which basically lasted until war production ramped up in the early 1940’s.

Now, the Obama administration is intent on making the economically suicidal move to raise the top tax rate by 10% as it lets the Bush era tax cuts expire. Popular myth is that those who pay the highest tax rate are Wall Street fat cats but the reality is that 75% of them are the small business owners, the ones who are responsible for the large majority of new jobs that are actually created in the country. Taxing them will lead to fewer jobs being created (as they will have less to invest) and of course, less consumer spending."

Goldman Sachs.
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Old Oct 3, 2009, 6:54pm   #292
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Banks With 20% Unpaid Loans at 18-Year High Amid Recovery Doubt - Bloomberg.com
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Old Oct 5, 2009, 10:26am   #293
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Old Oct 5, 2009, 10:35am   #294
 
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1.7$ mil? i would have been impressed if he said billion...

1.7 million dollars in options isnt exactly a big deal lol
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