For Better or For Worse, "Let’s Get Real!" Says Scott Bleier

If you are a saver like me, deflation is a great thing. No one ever thought the depression of the 30's would repeat itself ( IT ALWAYS does ) . If one is forward looking, one should plan on this. There are a lot of RAINY days coming, and it's going to be painful and ugly.

To a Yahoo User below,

I agree with you that we haven't yet found the economic bottom, because the deficit is temporarily supporting about 10-15 mllion jobs. Wthout other actions regarding trade and taxes, the unemplyment rate will jump 10% when bottom is reached, when the deifict ends, and much of the American middle class will be destroyed. Then equilibrium will be reached, and unemployement will be 20%, but we will be living in an oligarchy on the way to anarchy, facism, or communism.

Finally someone gets it right and tells it like it is! This is Japan; those of us who aren't Wall Street shills or political hoes have been saying that for two years. No one listened. The Congressfools kept playing ostrich. The Fed, a conspiracy of bankers and brokers, has been playing the same stupid game. Let them fail!!!

Overall He is correct about the economy. But after saying that I think he is wrong about the stock market. It does not dictate us. It is only a side show. It is not for us. It is for them! I am sure the money managers love to make the stock market so important, for its more money for them.
Yes we are deflating but commodities will go through the roof.
It may hyper inflate commodities and shut down its whole economy. So this is how hyperinflation will happen?
With the Fed eprinting of unlimited money.
This will cause money managers to pull there money out of treasuries and will seek security. This security will be commodities. Any thing that you and I really need everyday.
Oil gas wheat coffee sugar ect. These commodities will be bid ask up to unbelievable prices. You , I and industry will have to buy at these prices. It will shut down business for they cant pass on cost, now you know the " Rest of the story"

Helga, love what you did with your hair. Hi also to cal blonde and the rest of you. Have not had time to visit these days. In spite of the gov I am building a new company. There never was a recovery, so there cannot be another dip, it is the same old dip. If there is a silver lining, maybe people will stop watching TV and get out and build something. Get it together people. What we do now will help after 2012 is over.

When the Gov't finally lets the economy bottom w/o "incentives or stimulus" we will finally discover the real economy and this we need to do ! No more stimulus and free hand outs - let people move in with their family and neighbors, Then and only then will we find an economic bottom. !! Pete

Go Scott go!

This guy knows what he's talking about! Excellent commentary!

Technology is leading us to a point where a few very wealthy Americans and foreigners, owning the highly productive businesses, based mostly in China or third world countries with $1.50 per hour wages, will produce all the most important things that the US population needs. Only a very few American employees will be needed for things like distribution, sales, and marketing. So technology coupled with free-trade agreements will continue to greatly reduce the demand for US labor, which means that a very small number of Americans will need to be employed, and unemployment will skyrocket as the middle class is destroyed because it’s labor is no longer required.

To avoid this apocalyptic scenario, the US must now end or amend all trade agreements so that total imports and exports are balanced, greatly increase taxes on the wealthy to hinder the stranglehold accumulation of wealth by a very small percentage of the population, shorten the work week and increase mandatory employee vacation time to spread the demand for labor to a larger percentage of the population, and increase the minimum wage. Hopefully, these steps will preserve the American middle class and eliminate the need for more extreme measures.

I agree with Terry. And I loved the interview with Scott Blier!

***Government Debt Does Not Equal Responsibility***