IT HAS BEEN RECIEVED WISDOM AT G&D THAT STAGFLATION IS HOW WE "DO" RECESSIONS IN THE POST BRETTON WOODS WORLD... THIS NOTION HAS BEEN KEY TO THE ENTIRE GLOOM AND DOOM FORMAT...
IT ALL GOES BACK TO BRETTON WOODS...AND THE HERESY OF 1971! NONE OF THIS IS ROCKET SCIENCE OR EVEN NEW... IT'S AS OLD AS GREED...WHICH PROBABLY GOES BACK TO THE OLD TESTMENT AND BEYOND...
WHAT WILL LIKELY HAPPEN IS ...NOT THE END OF ENTITLEMENTS FOR THE MIDDLE CLASS...AND THE RICH GET TO KEEP THEIR MASSIVE LOOTED OFFSHORE FORTUNES...
BUT RATHER A NEW NEW DEAL... A NEW PROGRESSIVISM...AS WITH THE TWO ROOSEVELTS OF THE 20TH CENTURY...
THE RICH WILL SCREAM AND PROTEST...AND WE MIGHT HAVE TO JAIL A FEW OF THEM TO SHUT THEM UP...AS HAPPEN DURING THE 1930'S STOCK MARKET SWINDLE INVESTIGATIONS...
BUT WHEN YOU CAN'T GO DOWN ANY MORE...YOU SIMPLY MUST GIVE ORDINARY PEOPLE A REASON TO HOPE...
OR FIRE UP THE POLICE STATE AND THE DEATH SQUADS LIKE THEY DO IN LATIN AMERICA...
BUT NO, WE AREN'T GOING THERE... NOT NOW... THE RICH DID THEIR JESUS BIT, THEIR HOMO BIT, THEIR RACE BIT...THEY ARE ONE CRISIS SHORT OF PUTTING ON THEIR "NEW AMERICA" SWASTIKA ARMBANDS...!
BUT WE ARE REALLY IN 30'S AMERICA NOW...NOT 30'S GERMANY... DESPITE WIEMAR BEN'S ATTEMPTS TO TRASH THE DOLLAR!
