Today, the economy officially crumbled. The housing market affirmed its epic failure as a wealth preserver. The key industrial indexes fell further than anytime since the Lehman bankruptcy. And most importantly, the single financiers, led by Mobius and Ichan, do not believe that the system was ever fixed. This after hundreds of trillions of dollars were spent world wide trying to stave off a depression.
Lost in the fray are the key metrics of fiat and resources. Little changed today, and that eery quiet is the world waiting for the pin to drop. All eyes are on Bernanke, whose theory is universally accepted by the house schools of economics. He only has one plan, and since the economy is weak, he will continue with it.
The US has no choice but to monetize the debt. No other entity will buy it, and without the debt the US will be broke. There is only way out, even if it is into the arms of a failed policy. The desperate acts of Neo-Keynesians have to fail before the gig is up, and failure is at hand.