Add This 1934 Cartoon To The “There’s Nothing New Under The Sun” List:
Click image for larger version
If you think the housing market is bad now – just wait until these economic policies drive interest rates up… and don’t kid yourself – they’re heading up NOW.
George Santayana knew what he was talking about.
It’s a good time to buy real estate – while you can afford it.
Joe says:
Rising interest rates or no, the real problem is the U.S. Treasury’s finances. The government can bailout GM, AIG, etc., but who will bail out the US Treasury? The government may be able to do something with interest rates, however, the Treasury’s financial troubles cannot be covered up, papered over, or some other government quick fix.
June 9, 2009 — 1:10 pm
Doug Quance says:
>Joe: Good point. I have faith that the American people will get rid of the politicians that are bankrupting this country… because if they don’t – the cartoon will be a prophecy.
June 10, 2009 — 7:32 am
Travis Bohling says:
We will either have to default on our Treasury obligations or print enough funny money to devalue the debt if we do not stop the spending.
June 10, 2009 — 3:52 pm
Doug Quance says:
>Travis: The devaluation has begun. Watch the crude oil prices – which are traded in US Dollars – as they reflect the traders view of the power of our currency.
June 11, 2009 — 8:04 pm