Not surprising they aren't cutting defense. That industry has such a strangle hold on politicians they can't go to bed without Northrop or Lockheed giving them the ok.
Plus, 90% of the voting public has no idea how much defense they actually need.
Hooray for Quantitative Easing???
Nassim Taleb, author of The Black Swan, was interviewed about Bernanke and Quantitative Easing: Taleb Interview on Bernanke, QE
My takeaway is that hyperinflation is not guaranteed to happen because of QE, but the possibility of hyperinflation has increased somewhat due to QE.
Since hyperinflation is so destructive to an economy and a society, my belief is that everything should be done to maintain a stable currency. To me, any benefits of re-inflating the economy to avoid deflation are not worth the risk of hyperinflation.
My takeaway is that hyperinflation is not guaranteed to happen because of QE, but the possibility of hyperinflation has increased somewhat due to QE.
Since hyperinflation is so destructive to an economy and a society, my belief is that everything should be done to maintain a stable currency. To me, any benefits of re-inflating the economy to avoid deflation are not worth the risk of hyperinflation.