http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html
“"The truth is, we and everyone else misread the economy" – Joe Biden today on a Sunday talk show (ABC?)
Nobody missed anything. The purpose of the “stimulus” was to robe the Taxpayer of $800 billion and transfer it to Democratic political hacks – period.
Now, not only is the economy sucking, and over 400k new people getting pink slips last month, but the Dollar imploded, driving Gas to over $3 a gallon.
Plenty of people saw this coming.
Now, those same smart people know what will follow – a real “stimulus” package of at least $1 trillion, designed to actually get people working again. This package may be loaded with protectionist policies, designed to start the process of unwinding NAFTA and getting Middle Class manufacturing jobs back to America.
It will also lead to some pretty substantial inflation – which will lead to Asset Price Inflation, making the likes of Obama, Greenspan and Bernanke happy.
I’m looking forward to all of the trading of Gold Coins that will start to occur on Craigslist, as people will want to anonymous purchase Gold, without the transaction being tracked by the Government (think 1933 and the Roosevelt Hoarding over-reach).
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