Recession’s Grip Forces U.S. to Flood World With More Dollars
In an all-out assault on capitalism’s worst crisis since the Great Depression, the U.S. is taking on the role of both lender and borrower of last resort for the global economy. Full Story »
Posted by Michaela Stanelun
Those of us old enough to remember the stagflation of the 1970s will find all this very familiar. The trouble started with Lyndon Johnsons "guns and butter" policies during the Vietnam War. We went deep into debt to the world and so the Fed sparked hyper inflation thereby devaluing the dollar. We paid our debt off with those bargain basement bucks then had to dig our selves out of a stagnant economy. Here we go again.