Quote:
Originally Posted by GrumpyOldMan
The last recession resulted in several trillions of dollars of lost wealth. Some recovered, some didn't I would say for those that didn't it was significant.
In my case, I lost my 401k, my credit rating, home and wife. 10 years later I have almost recovered most, but not all.
So, yes in most of YOUR lives it may not have been detectable. But for myself and MANY others lives it was very detectable. Politics had NOTHING to do with it, economics did.
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"Several trillions of dollars in lost wealth.: If we dare to see truth we are being had. Nothing that is real can simply disappear. We've heard the term trillions so many times that we've a Goering said, you say something often enough and people believe it is truth. A trillion dollars-what is that? In trying to explain it some describe it a freight trains full of 100 dollar bills. I read the interest on the national debt is now 40 billion dollars. Then it hit me that I do not comprehend what one billion is let alone 40 of them.
As to detectable-I regularly quip I shoulda, coulda mighta or hindsight is always 2020. "Politics had noting to do with it."
We hear the FED wants 2% inflation. Another big lie. They have never in history been able to achieve and hold a given rate of inflation. That 2% is a rate of theft. The 10 year treasury last time I looked was paying 1.7%. If, your purchasing power is falling at 2% and the government is paying you 1.7% and charging you income tax on that 1.7% (free of sate and local not fed tax) our country is simply hoodwinking you while they steal from you.
We being normal demand more and more. Our government uses our own money in the form of adding to the debt to buy our votes.