Government corruption Why we're having deflation and inflation

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Max Keiser gives the impression of someone shooting from the hip, but he often gets things fantastically right.

For example, years before Iceland blew up, he made a TV documentary about what was going on the in banking system there and predicted what would happen. Meanwhile, bought and paid for economists like Glenn Hubbard (formerly with the Bush administration, now dean of Columbia University Business School) signed off on what an "economic miracle" it was.

I don't agree with everything Max says. I'd specifically advise caution on the near and mid term outlook for gold (posted 1/15/11), but over all he's remarkably perceptive and fearlessly honest.

If you want to really understand what's going on today, the analogy of the water main break, giving a superabundance of water to some and depriving others of it which the "lucky" then get to sell a premium to the unfortunate, is the most apt description of our so called financial system I've heard.

It's unsustainable - though I do think the parties responsible are prepared to try to sustain it at the end of gun barrels.

Note the word "try." It didn't work too well in Tunisia, did it? That's the model for how to deal with these people. Flood them - with protest. Otherwise prepare to cover their gambling debts for the next twenty years at the cost of your standard of living.

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Why we're having deflation and inflation

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What happens when the water main breaks