Depression to continue into 2010

[scythe]

http://www.zerohedge.com/article/brace- ... ld-or-else

As one HN-er put it:
They are suggesting that the US Government needs to borrow a very large amount of money in 2010. To do this, one of three things needs to occur.

1) Another round of quantitative easing (Fed increases the money supply) This will lead to a dollar collapse, or at the very least, a severe dollar devaluation, which is generally not good for the economy.

2) Fed raises interest rates. With higher interest rates, more people are willing to buy treasuries, and so, there's more money coming in to pay the bills coming due in 2010. Higher interest rates are generally not good for the economy, particularly if it's already sick.

3) US Government engineers a stock market collapse, to send people scurrying to the safety of treasuries (and thereby allowing government to borrow what they need to). Of course, stock market collapses are generally bad for the economy.

So, in summary, I'd say they are predicting that the U.S. economy will have a rough 2010.

The alternative, of course, is reducing the deficit. Ha!

[Mute Monk]

The U.S. really has painted itself into a corner, financially-speaking.

I think the we in the Western world deserves every bit of economic difficulty we're experiencing, plus some more. Honestly, we're consumerist pricks.

[smartalco]

Or maybe a miracle will happen and the congress will stop spending money on useless shit!
One can dream right?

I don't remember who said this on the old forums, so I can't give them props, but I used to have this quoted in my sig:
If pro is the opposite of con, what is the opposite of congress?