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  1. James,

    This is stunning. To see this laid out graphically is borderline horrific. It puts Al Gore’s (fake) hockey-stick graph to shame! And worst of all, this one’s real.

    My grandmother used to talk about taking fists full of DM to the store to buy bread. Are we headed in the same direction?

    AndrewPrice

  2. It sure looks that way. And like Robert Mugabe, Obama’s plans for agriculture may turn the US into a food importer rather than exporter.

    Carter looks like George Washington by comparison to Obogus.

  3. James,

    It does look that way. If he loses our AAA credit rating, and interest rates start shooting up further than they currently are, this whole depression/recession is going to get so much worse. It will make stagflation looks like Reaganomics.

    As for becoming a food importer, I would like to laugh. . . but I can’t. Remember that article from Chuck D. at BH about the farmers in California losing their water? And then you add in the use of so much land for corn for ethanol instead of consumption and soon you’re talking about shortages.

    I read a fascinating article the other day about the rebirth of the “banana republic” in Africa where the Chinese and the Saudis are buying up huge tracks of land to farm, and then ship the food home. So there clearly is a competition for finding more farmland. And here we are squandering ours.

    When did rationality die?

  4. You really think this is a product of naivety and irrationality? Whilst they might appear stupid, their intentions are well calculated.

    Whilst the comparison to the Zimbabwe and 1920s Germany will continue, the significant difference between those cases and now is that we are dealing with a global reserve currency – and devaluation will affect the entire global economy, not just within the boarders of the US.

    Look at the outcomes of the G20 in April, specifically to the allocation of $250b to the IMF’s SDRs. This could well become a replacement to the dollar as a global currency. The heads of Chinese and Russian banking have made numerous announcements publicly in the last two months about important these SDRs are and their potential role as a global currency.

    While Vocker, Geithner, Bernake and the rest of those criminals will publicly denounce such suggestions, they know such a realisation is inevitable. Those in control of the IMF and World Bank are playing the same game, and it is in their long term interests to having the whole planet use a single currency, the creation of which, they control.

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