I think people of all generations are starting to understand, big time, that they are being ripped off. The question that remains is will they have the discernment to ask the right questions and come to the right conclusions about who it is that is ripping them off. I never cease to be amazed at how skillful politicians are at convincing people that the real culprit is anyone but us (note the AIG bonus outrage). I do have optimism however. Being constantly bombarded with so much competing information I tend to think the younger generations have had to develop better bullshit detectors by necessity. At least I hope that is true.

The Chinese aren’t buying, they know we can never pay them back.

So the Fed is ‘buying’ treasury bonds. It has already doubled the money supply in the last year alone, now this.

The dollar is toast. Bernanke thinks once he lights the fires of inflation, he can pull his kindling out of the inferno in time to save the dollar — probably with usurious interest rates. Well, the last time it took rates over 20%. This time, no amount of interest rate is going to save it.

I hope I’m wrong, but I don’t see any way out. The worst thing is, the paper money giveaway destroys the honesty and worthiness of our society.

Alas, wealth cannot come from a printing press or computer keystrokes at the Fed. It is a long and steady process requiring trade, division of labor, capital accumulation brought about by deferred consumption (savings), private property and the rule of law. We long ago ceded all of these things in a quest for “fairness” and outright theft of the productive for the benefit of the slackers and the political parasites.

If people haven’t figured out by now that we are being ripped off, they soon will, and it will be a very painful lesson indeed.