[quote]That we've been able to kick the can down the road by rolling over our debt at low interest rates does not eliminate the threat of inflation down the road. Hyperinflation? Probably not, but 10-15 percent a year for a few years definitely becomes possible.
Anything is "possible" but it's pretty damned unlikely. The economic conditions today do not support such a prediction.
[quote]The $85 trillion in funny money that is being used to prop up the housing market is definitely part of our debt
No, actually, it isn't, any more than it's "funny money," and no amount of mindlessly repeating it will make it true.
[quote]but we are just printing money to pay it off.
*shrug* We've been engaging in similar tactics for nearly 100 years, without the dire economic consequences that people like you have been predicting.
[quote]That's similar to stock dilution on Wall Street.
Actually, it's nothing like "stock dilution on Wall Street," which is why your predictions aren't going to come true.
[quote]Food prices are definitley [sic] higher.
You said, and I quote, "through the roof." They aren't. And where they are increasing, it's because of things like drought, not the actions of the Federal Reserve. There is a reason that food prices are not considered in the core inflation measure.
[quote]Portions are getting smaller, which is stealth inflation (59 oz. is the new "half-gallon")
Sigh.... the various measures of inflation that include food prices take such things into account. There is no "stealth" about it.
[quote]and gas is approaching $4.00.
Which has absolutely zilch to do with the actions of the Federal Reserve. Gas is simply returning to where it was prior to the drop in demand caused by the economic meltdown. And, as I noted, the current spike was caused by the idling of capacity by the major oil companies.
[quote]Gold is in the stratosphere for a reason.
Yup, it's in a classic bubble. Look at a chart of gold prices adjusted for inflation and you'll see it is at near record highs. Anyone who invests in gold today is a fool.
[quote]but the rest of the world is not.
Actually, most of the rest of the world can do exactly what we can. It's the Eurozone that has problems, largely because it's neither one thing nor the other.
[quote]Printing money merely dilutes wealth, rather than creating it.
It depends on when it is spent and what it is spent on. Your model is too simplistic to adjust for the various factors that can affect this.
[quote]but more than at any time in my life, the disincentives to working (extended unemployment, free healthcare for the poor, food stamps, etc.) have never been greater.
And your point is?
[quote]The student loan program has also functioned as a shadow welfare system
Oh, please. This is just silly now.
[quote]It won't happen overnight, and most of us will be gone by then, so let's kick the can down the road some more!
Sheesh.... What a load of absolute drivel.