Truthnadv (December 31, 1969 at 6:59 pm)

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RajahBrooke (December 31, 1969 at 6:59 pm)

I'm a European, and I'm very proud of the fact that we did this in Europe first. We're suffering as much from this crisis as are the Americans. If I wanted the US economy, and it's people to shrivel and die, I would suggest staunch fiscal conservatism and balancing the budget. Hoover would approve.

SuperSexyBoiGod (December 31, 1969 at 6:59 pm)

Every european wants to see American citizens suffer with increase tax and increase inflation and lower value for the dollar, but that is akin to torturing the slaves of the plantation because the Massah of the house ordered poor farming causing blight on his neighbors land. What should happen is what happened in France to Marie A.

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RajahBrooke (December 31, 1969 at 6:59 pm)

Cheers!! I try not to fall into hyperbole if it can be avoided. I just don't understand people who want the government to shrivel up and do nothing at all to try and soften the blow from this crisis. I suppose it's true that the economy would readjust- but at what cost? What level of human suffering are we willing to see? The last thing we need is for this recession to turn into a depression.

rendubot (December 31, 1969 at 6:59 pm)

I would actually have hope for our future if ron paul was president I do not believe obama will make the necessary changes we need to save this country Ron Paul gives me hope.

ttpmvo (December 31, 1969 at 6:59 pm)

money is not backed by anything thing its legal tendertherefore its worthless paper the goverment keeps making to control the publicend of story

LUEcifer (December 31, 1969 at 6:59 pm)

You're basically telling me what I've been saying all along. Of course commodity backed currency experiences periods of inflation/deflation, but the value can fluctuate in either direction. The trust system we have now will ALWAYS devalue our dollar. 700 billion dollar bailout anyone?

origen01 (December 31, 1969 at 6:59 pm)

Inflation is caused simply by an increase in money supply. A commodity backed currency is not exempt as it is also subject to increases in supply (e.g. Gold Rushes). They do indeed protect against govt. overspending and hyperinflation--but as I brought up in a an earlier post economies frequently face deflationary periods when the supply of the commodity dries up.