The Great Dollar Printing Press

Submitted by rcm on Wed, 05/06/2009 - 10:09am
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Many of you probably saw the news this morning stating Bank of America may need $34B of additional capital to pass the Government Stress test and it brings to mind the next big hurdle we may need to overcome.  I doubt seriously that a bank the size of BOA will fail, but clearly the Governments printing money apporach to fixing it suggests we may experience inflation of the likes seen in the 80's.  Our next big hurdle may very well be double digit interest rates and that in itself may keep us in a depressed real estate market!
 
And for all of you who think the taxpayer is getting paid back for all of this, read the articles today about the $7B that was given to Chrysler!
 
Just as "FREE-FOR-ALL" credit approval got us into this mess, printing money is NOT going to get us out!  We need some real solutions and it probably is common sense that will win the day!