Conrad Black: “None Of This Can Go On Much Longer”

Read more on this subject: Economy – Economics USA
News Story Source:, by Conrad Black
This is a demonstration once again of the wisdom of the average person.

While the United States, and to a lesser extent the West generally, is being subjected to a variety of threats and disappointments, and there is a natural aversion to highlighting additional negative developments that could be looming, it would be comforting if we heard anything from the secretary of the Treasury or the chairman of the Federal Reserve about the current apparition of a gigantic financial bubble over the United States.

In the past year, the United States has had a money supply increase of 25 percent, an unprecedented event. What was originally billed as slight and self-correcting inflation increases are now gathering into a continuing and growing storm cloud, only thinly disguised by the unrepresentative composition of the official consumer price index. Year over year, hourly pay scales have risen by 7.5 percent, new cars cost 10 percent more, used cars and new homes are 20 percent more ex
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