[ubercynicmeister]

In one Peak we should all welcome, yesterday's announcements by the local Media about What Happened On Wall Street was a marked departure in tone. In essence, their skepticism is now noticable about the "commodity price predictions" and their likely impact on Inflation.

It seems that the oft-repeated reassurances about how the Price of Oil will never, I tell you NEVER, get above US$25 per barrel is now being largely called into question. There was a very definite edge to the media's assessment of the Economic Rationalists ideas of how "Inflation is no longer a problem".

Well, it took 5 years of rising Oil prices to call the Economic Rationalists' bluff, and now it has been show to be just that: bluff.

Interest rates are going Up, Up, Up, and God Help Anyone with a Mortgage or any form of loan.

I know a lot of people on these boards are insisting that if they borrow now, the hyper inflation that is to come will "take care of it". Don't bet your house on THAT happening any time soon. We still have the "I-know-it's-not-going-to-work-but-we-must-do-something" measures that are yet to come, thus further wasting more time & money and - above all: energy - on something that is known before hand to be a flop, but, well...those measures will allow the time to allow the Debt Collectors to make your life miserable.

[Battle_Scarred_Galactico]

I voted misleading, they've been conditioned to not live in the real world.

[Novus]

I voted Psychopathically Corrupt because it has become Robin hood in reverse. There has been a massive transfer of wealth in this country from the poor to the rich. The concept of the middle class has become a halucination of endless debt. The masses have signed away there entire future lively hoods for a blind faith promise that the markets will always provide for them. Their debt is basically contract to serve the rich but since the rich already have everything there is nothing the people can to but beg at the foot of the rich for more debt. This leads to falling wages and higher prices which has already happened. The only reason the average American has kept the lifestyle up is because exponentially increasing debt.

[ubercynicmeister]

$this->bbcode_second_pass_quote('Novus', 'I') voted Psychopathically Corrupt because it has become Robin hood in reverse. There has been a massive transfer of wealth in this country from the poor to the rich. The concept of the middle class has become a halucination of endless debt. The masses have signed away there entire future lively hoods for a blind faith promise that the markets will always provide for them. Their debt is basically contract to serve the rich but since the rich already have everything there is nothing the people can to but beg at the foot of the rich for more debt. This leads to falling wages and higher prices which has already happened. The only reason the average American has kept the lifestyle up is because exponentially increasing debt.

[mabz]

Voted ''Misleading and wrong-headed to the point of being a distraction'' because taken in isolation, or in say a computer game, economic rationalisation is logical and commonsense.

Unfortunatly, as we all know, it does not work because we are dealing with peoples lives and a planet that cannot cope. Intelligent, influetional powerful people are being distracted by the benefits of being adherents to this rationalisation and they will hold on to it as long as the benefits remain.