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Looks like a case of stagflation dammed if you do damned if you don't. Happened in the 70's and looks like it is happening again. In a debt based financial system you do not want inflation higher than interest rates because then the banks have no reason to lend money when they have less purchase...

It isn't a default just a sneaky devaluation so that the country won't have to default. They may as well start printing up that 10 trillion dollars now let them have the change by the time they are done printing it it will have a spending equivalence of 50 billion instead 500 billion...

I am not an economist but in the last few years I have been struck by the seemingly inherent flaws in neoclassical economies. It seems to me even with regulation of the debt centered mechanisms of this type of economy loopholes are consistently found that undermine the prosperity of the many for...

Stagflation like the 70's could put a damper on the economy Stimulus cheques or not. I guess there should be some sort of correction soon as people start to worry about the state of the economy lets just hope opec doesn't decide to lower quotas or even worse Israel decides to do something...