Monday, March 30, 2009

Surviving the Obama economy

Individuals are to rely on mortgage default and personal bankruptcy to escape their individual debts, while the government relies on inflation ito wipe out the national debt.

http://www.miamiherald.com/news/front-page/story/974356.html

1 comment:

S said...

Actually, I'm counting on Obama's inflation to wipe out my mortgage debt. :)

It will wipe out my cash / bonds savings but they're smaller than my mortgage debt... a lot of my savings are in things that will rise in value along with inflation...

Anyway, that’s the bright side. Overall, yes, it will be a mess... the US economy will probably be pushed from its world leadership role (re: the use of the dollar as the reserve currency) and our national wealth will take a dive as a result…