Dinosaur_Sr wrote:

This sort of thing has happened before, and will happen again. the US
is not the Soviet Union.

Getting more like it by the minute these days. Do not make the fatal
error if believing that it cannot happen here. It can, and by slices,
it is.

This will not cause the collapse of US
society. We have had the recession and deflation...still going through
the deflationary phase.

This is no recession - it is depression. Mild at the moment, but there
are events on the horizon that are almost certain to come before long
that will turn the wick up a notch or two on our currently unwelcome
conditions. Just one example would be the coming wave of mortgage
foreclosures. That should be spread over the coming year or two. Based
on my reading, it stands to be a damned sight worse than the first wave.

And what about the likelihood of hyperinflation? While it would be
nice to be able to pay off the mortgage after only 20 minutes after
taking that job at McDonalds, the other side effects may not be so pleasant.

In a few months we will get some real growth
and consequent inflation.

Um... not likely. Runaway inflation is not a result of economic
growth, but of out of control printing of paper money, which our
esteemed ex-president and congress were quite happy to kick off and
which our current Nobel laureate has taken to heights GW's puny mind
could unlikely wrap itself around.

When the value of the currency matches GDP
and other indices of real worth, we will get another period of
prolonged growth. While the ole boom/bust cycle is not well liked by
some progressives, it sure beats the permanent mandated bust phase
that result from progressivist policies.

The operative work here is "when". As it is currently proceeding,
Obama and congress may be defining "when" in terms of geological time
scales.