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by Asmodeus
6060 days ago
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"When the debasement rate is 10% and interest rates are 7%, the negative debasement-adjusted interest rate is a debt factory. It is easy for borrowers to make decisions that assume these rates will continue. If they end, the typical result is a recession. These kinds of dependencies make it very hard for politically sensitive authorities to end debasement, or even significantly reduce it." From (http://www.safehaven.com/article-5205.htm) likely by the same author in a different mood...written in 2006. |
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http://en.wikipedia.org/wiki/Millenarianism
These people are exactly like those Christians who think the rapture is always just around the corner. Maybe next year.