>>"We can reign in spending"
Why do we need to rein in spending? Why can't we just re-allocate to the national economy what we are spending to support globalization and empire overseas? Spend the same, but differently? If your answer to that question is:
"But our foreign creditors will stop buying our treasuries if we stop being Cop Of The Globe."
then what does that tell you? It tells me that we're a servile nation already, taking our young people's lives and the economic future of America, throwing them into the battlefield and into the sinkhole of the military budget, all to obtain current credit. We need to break that relationship ASAP, unless we like being prostitutes.
>>"house prices will decline even faster"
What is the objective here? To make homes more affordable, or to protect the phony wealth built into home prices by the inflated money supply? If everyone needs a place to live, then there's only two ways to get them an affordable home- first is to make home prices drop, and deflation accomplishes that. Second is to keep home prices high by inflating the money supply and make people take on large mortgages to buy them. Who does that help, but the piggish crooks and lenders who already pulled that con on us once this past decade?
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