What are they going to rise up and protest about? The price of food? Even with the rise in costs it’s still practically dirt cheap. Their lost jobs? Well, 9% of the working population might rise up I suppose, but to what ends? I know you think that the solution is to impose stiff tariffs on selected countries that use cheap labor and to force businesses to bring back jobs to America, but I doubt there are enough Americans deluded enough to rise up against the government to overthrow it in some sort of revolution. As DtC says, we have this thing called ‘democracy’…so, if people actually think along the lines you THINK they do, then they can always vote in politicians eager to capitalize on populist view points.
Well, since I’m on ignore, can someone ask him to give a link and maybe expound on this? What is the ‘clueless’ definition of inflation…and how does Le Jac’s definition differ? Who are the ‘many others’ who have ‘seen through this traditional definition too’??
Considering that this didn’t happen during the Great Depression, which was a much worse crisis than the current financial woes, I’m going to go with ‘no’ as the answer. I don’t even think there will be a revolution in Greece, Ireland or Iceland, let alone one in the US, which, all things considered, has things much better during this recession than most other countries. What I think will happen is that we’ll need to import more cheese to go along with all of the American whine…