McCain could sink the economy

[LuckyTheDog]

I talked to an economist recently who says his biggest fear is not that the government will raise taxes, but that it will embrace inflation in order to deal with the massive amount of government debt being accumulated now.

If the government does not slash spending, raise taxes, or both, then the hyper-inflation needed to deal with the massive deficits accumulated during the Bush years would kill growth in the economy.

And if McCain got elected, that is where we would be heading. McCain would add to the pile of debt leaving only ONE option: A plunge in the value of the dollar and rapidly rising prices. That would decrease the value of the debt -- but also serve as a hidden tax on everyone and kill the economy.

McCain = deep depression. Scary thought.

[Jackpine Radical]

1. I have no doubt hyperinflation is what they have in store for us.

How do you get rid of a trillion-buck debt? Turn the dollar into toilet paper so you need a billion of them to buy an apple. Then the debt can be paid off for the price of a thousand apples.

[LuckyTheDog]

3. We need to get this message out

Obama = Top-notch economic team.

McCain = Phil Gramm, stagflation and economic disaster.

[Cleita]

2. I've been afraid of this all along too.

I could see the train wreck but could do nothing about it because no one understands how that works unless they were living in Germany just before the Nazis got power.

[whistle]

4. Hyperinflation will cause the complete economic collapse of the U.S.

...and allow the neocon fascist takeover along with the religious right to be completed

[LuckyTheDog]

5. It's 'pick your poison' time

The libertarian fantasy of getting rid of government debt by killing off Social Security, Medicare and most of the Pentagon will never happen. So, pick your poison. We can deal with these massive deficits and reduce the national debt one of two ways:

-- Moderately higher taxes for families with incomes of $250,000 per year and up.

-- Hyperinflation.