John, I never would have believed I would see the day that you advocated against trickle down economics.
I'm not into "this" trickle down crap. Not when it's done wth funny money. Bernanke's QE3, or QE infinity, gave the stockmarket a very temporary sugar high, but I don't see it sustaining growth in the stock market. I got back in the stock market about a year ago, up maybe 5%, but Im looking to pull the plug.
The world economy is a big mess. Seems like everybody is printing money trying to solve their spending/debt problems by doubllng down on debt with printed money.
Chinese economy is going down seriously. They aren't going to be buying our debt, or very little. I'm of the opinion there is a deal between the Fed and the banks they're buying these bonds from whereby the banks will be using the printed money to buy treasuries to fund the deficit.
Then I read it isn't just a matter of covering the next trillion dollar plus yearly deficit because we have like $ 4 trillion in treasuries maturing over the next 12 monthes or so. Are the owners of these treasuries going to want to roll them over?
We spend our time arguing about whether, or not, we should tax the wealthy more. Meanwhile we're all getting hosed as the Fed and the government monetise the government debt by continuing to seriously debase our currency.
It is going to get real scary when it gets so bad the people finally realize the deception our so called leaders have perpetuated on us all. Funny thing is, when it really hits the fan, I expect most folks will still look to the government to make things right, kinda like asking the arsonist to help put out the fire.