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There was a guy on the Daily show last night, Peter Schiff (?), and he was talking about the dangers of such things as impending hyper inflation. Stewart showed a clip of this guy getting laughed at on shows just a few years ago where he expressed concerns about the housing market and something he called a "credit crisis." There's a quick part of the clip where he says the credit situation is doomed and pretty soon a lot of people aren't going to be able to afford the homes they already bought mortgages on. Ben Stein's on the a split screen and he says "that's just not true" while shaking his head like Schiff's an idiot. Now I think Stein's a fairly smart fellow but clearly he was wrong about this, as were many others.
The fact he was right before doesn't mean he's right now. But I don't think anyone's laughing at him now. Personally I find it rather alarming the amount the US owes other countries. Not to mention the countries we owe it to. Combine that with the fact the US really doesn't manufacture much of anything anymore and I think it might be just a matter of time before we're in serious trouble. Trouble that makes last fall look like happy fun time for investors.
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I used to drink to drown my sorrows, but the damned things have learned how to swim- Frida Kahlo
Vice President Starkizzer Fan Club
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