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Originally Posted by Tempest
Well you said that Obama said the US is out of a recesion whereas he's just relaying what the "experts" tell him.
Regardless, no one really knows where things are heading. They all have lots of ideas and opinions but something could happen tomorrow that could blow it out of the water. If they get it right they slap themselves on the back and tell everyone how brilliant they are and if they get it wrong they make up some excuse like they didn't take into account xyz. Both sides do the same thing.
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No, many intelligent people have a great idea where we are heading. We have astronomical debt and we hardly are a manufacturing power anymore. We are now a service economy, which means our trade deficits will keep on growing. The morons in congress and mainstream economists practice a flawed theory where they think throwing money at the problem solves the problem, and that consumer spending powers the economy, rather than capital investments and manufacturing. So we're going to continue the quantitative easing, further devaluing the dollar and pushing precious metals up. At least the Great Depression was a deflationary depression.. Everything was cheap as balls. We're going to get an inflationary/hyperinflationary collapse.