By Richard Russell
This may be the first time that all the world’s central banks are acting together to battle against deflation. The way they are battling is through Quantitative Easing, in the hope that this explosion of liquidity will hold deflationary tendencies back and will somehow inspire the man on the street to buy. Unfortunately, the huge surge of liquidity simply inflated the assets of the wealthy 1%. The middle and lower classes are searching frantically for income and jobs.
As I said before, it’s only a matter of time before the two parties get together and institute make-work projects as were seen during the great depression of the 1930s. America’s infrastructure is falling apart and repairing it will require the work and know-how of billions of men and women. Until then, our job will be to stay above water, save, cut expenses and wait patiently for better times. I firmly believe that God is ... Log in or subscribe to continue reading.