Easy Money, Hard Truths

How many times have you read the word consequences on this blog or jsmineset.com? A lot. The consequences of the action taken to preserve a failing fiat system will not be postponed much longer.

Before this recession it appeared that absent action, the government’s long-term commitments would become a problem in a few decades. I believe the government response to the recession has created budgetary stress sufficient to bring about the crisis much sooner. Our generation — not our grandchildren’s — will have to deal with the consequences.

Source: nytimes.com