As I sit here 7 years after 9/11 I'm struck with just how successful it turned out to be in ruining our economy and our standing with the rest of the world. The idea was to cripple our economic system and send a message. It worked.
1) The braindead FED slashed rates so fast and sharp as to help foster the worst housing bubble in world history. The effects of which, with poor oversight to boot, are in the process of disintegrating the banking system and ruining our currency. There is no way rates would've come down as fast and as hard if 9/11 hadn't happened.
2) Our weakened currency has driven up the costs for things like food and energy. Even in the face of the oncoming deep recession, costs are going up and will continue to because our currency is dogshit.
3) Why is it dogshit? Well war is one reason. I'm not into whether we should be there or not, let's simply look at the result. 9/11 happens and sends this country into wars in Iraq and Afghanistan costing ultimately trillions of dollars. That money has to come from somewhere. And its you and I borrowing it while we devalue the dollars we already have.
4) Those wars have actually impacted oil production and in the region and caused prices to go higher, not lower....further hurting the economy.
5) Our standing with the rest of the world has been hit hard as America has never been viewed as negatively as it is now. Sympathy after 9/11 has turned into disgust.
So what to make of it? Well I only see worse times ahead for this country no matter who the next president is. The slow motion train wreck which is our economy and the banking system as a whole is picking up speed currently. This is not someone who is a glass half empty person. This is someone who sees what has happened and sees where this is going. There are no quick fixes here. The real question is whether we end up in a Great Depression style deflation or a Germany post WWI style hyperinflation....maybe a bit of both. But make no mistake, 9/11 was the starting point for all of this. And people shouldn't forget that.
1) The braindead FED slashed rates so fast and sharp as to help foster the worst housing bubble in world history. The effects of which, with poor oversight to boot, are in the process of disintegrating the banking system and ruining our currency. There is no way rates would've come down as fast and as hard if 9/11 hadn't happened.
2) Our weakened currency has driven up the costs for things like food and energy. Even in the face of the oncoming deep recession, costs are going up and will continue to because our currency is dogshit.
3) Why is it dogshit? Well war is one reason. I'm not into whether we should be there or not, let's simply look at the result. 9/11 happens and sends this country into wars in Iraq and Afghanistan costing ultimately trillions of dollars. That money has to come from somewhere. And its you and I borrowing it while we devalue the dollars we already have.
4) Those wars have actually impacted oil production and in the region and caused prices to go higher, not lower....further hurting the economy.
5) Our standing with the rest of the world has been hit hard as America has never been viewed as negatively as it is now. Sympathy after 9/11 has turned into disgust.
So what to make of it? Well I only see worse times ahead for this country no matter who the next president is. The slow motion train wreck which is our economy and the banking system as a whole is picking up speed currently. This is not someone who is a glass half empty person. This is someone who sees what has happened and sees where this is going. There are no quick fixes here. The real question is whether we end up in a Great Depression style deflation or a Germany post WWI style hyperinflation....maybe a bit of both. But make no mistake, 9/11 was the starting point for all of this. And people shouldn't forget that.
hno:
