At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

The Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.

Greed is normally balanced by fear.

In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.

You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.

We are an indebted family going out for an expensive meal to celebrate getting approved foe a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable.

The fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works.