Everyone I know of who is not a bureaucratic mouthpiece for the government or the banking industry is saying we are going to have price explosion of commodities and a collapse of the dollar. All predictions are that this will lead AT BEST to a radical lowering of our standard of living, and at worst to societal breakdown, and a collapse of society akin to the Middle Ages.
What is amazing is that people close to me look at me with a straight face and say "you are the only person I know who is saying this stuff." Then I read the mainstream press....., even the financial press, which is a little more informative, and I understand why. Appalling abject stupidity and a complete ignorance of the underlying economic situation, coupled with a kind of Pollyana "oh, it will all work out... things have been hard before."
Makes me think "my GOODNESS, what unspeakable ignorance about our financial situation!"....., and then I feel compelled to make another shrieking wailing prediction of doom somewhere (lol).
It has been bad before. Problem is, every time it has been like this before, the price to fix it has been excruciating, painful, and for many, fatal.
I guess that is just what it is.