Outgoing Federal Reserve Chairman Ben Bernanke's announcement of a modest reduction in the Fed's “quantitative easing” (QE) got the Dow Jones industrial average to pop nearly 300 points on Dec. 18.
On we go to ever more debt and spending.
Thus, instead of letting some pain come now, or when QE began months ago, this reduction will, in my view, only defer the pain in greater amounts later.
Just like pretending that some entities are too big to fail, bursting the obscene bubbles of excess is like lancing a boil and it lets the body recover more fully.
If we keep adding and adding, yelling “growth, growth, growth,” we are behaving like a cancer cell!
The world with 9 billion people by 2040 is not going to be a pleasant place.
Donald A. Collins
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