I was recently thinking about what has transpired in this country in the past decade: first the equity bubble, then the real estate/credit bubble and the steady debasement of the dollar (where a trickle of trouble threatens to turn into a flood).
I have been struck by how few people seem to understand how all these events are related — in that, at the root, they each have the irresponsible printing of money as the cause. (The sociological and psychological phenomena that go with that — e.g., the regulators not doing their job — are just part of the process.)
Each problem led to the next, and one year ago the financial system was bailed out at the risk of the country ultimately enduring a funding crisis. Read more about monopoly money…
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