Ponzi Scheme Government
It is interesting to go back and look at thoughts and interpretations of events from the past. Sometimes it is embarrassing. This post from almost three years ago, seems rather accurate in light of subsequent developments. The Ponzi Scheme that government had become only continued, as expected.
At that time three alternatives were reviewed with respect to how government would deal with its economic and financial crisis:
Live Within Its Means
Continue To Print Money
Stop Printing Money
Ben Bernanke chose the second alternative. His recent announcement of “QE until the cows come home” is nothing more than a continuation of what was expected three years ago. Here is the article, unchanged from December of 2009. It is as applicable today as it was then. The only difference is that we are more deeply committed to inflation and closer to the likely hyperinflation that will destroy our society: