drieuxster (drieuxster) wrote,
drieuxster
drieuxster

BUGGA BUGGA FEAR!!! InFlation!!! nanciiPelosii Must Resign

Ok, so if you haven't yet heard, the primary defect in the wanking about how hyperinflation is the growing threat caused by Gay Marriages - then try to remember:
[T]hese aren’t ordinary times. Banks aren’t lending out their extra reserves. They’re just sitting on them — in effect, they’re sending the money right back to the Fed. So the Fed isn’t really "printing money" after all.... [M]uch of the current inflation discussion calls to mind what happened during the early years of the Great Depression when many influential people were warning about inflation even as prices plunged. As the British economist Ralph Hawtrey wrote, “Fantastic fears of inflation were expressed. That was to cry, Fire, Fire in Noah’s Flood.” And he went on, “It is after depression and unemployment have subsided that inflation becomes dangerous.”
[ cf Paul Krugman on Inflation Fears: Economists Should Know Better ]
So the interesting thot here is that IF we are to buy into this BuggaBooga Fear - then majikally the Obama administration, in spite of the actual conduct of the Fed and Treasury have been able to turn the economy around, and all is right with the world, and we are all gloriously victoriously mission accomplished....

Yeah...

It could happen.

And Dick Cheney could turn into the New Dick Gretory.

Yeah...

It Really could happen; just like that...
Tags: economics, republican_pron
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