Friday, June 05, 2009
Here we go again...
We'll be welcoming in hyper-inflation when 2010 begins. Via Ace:
Gas in SoCal is already pushing close to $3/gallon. If Goldman Sachs is right in their prediction, the economy is going to get much worse before it gets better. Stocks may rebound a bit because of the jobs cuts, cost-cutting, and products/services price increases to try to offset various expenses (including fuel/transportation costs). But when prices get too high, stag-flation sets in. The public then CAN'T buy things because of the higher prices and lack of necessary income. I said it before, and I'll say it again. Jimmy Carter 2.0.