Worse, as Pat Buchanan warns here, the political turmoil will only exacerbate the economic turmoil. The inflation heading our way will be as destructive as a giant wall of water flattening everything in its path. And it's deliberate -- it's the last resort the Fed has:
[I]f liberal Democrats are right and deficits are the correct Keynesian cure for recession, why have Obama deficits of $1.4 and $1.3 trillion failed so dismally? Paul Krugman says they are not large enough. Perhaps, but the country is about to end the experiment.
The Federal Reserve, having used and broken every tool in its toolbox, including doubling the money supply and setting interest rates at near zero, will now bet the farm on inflation, starting Nov. 3.
Both parties have lost the mandate of heaven, and neither knows if its economic philosophy even works anymore.
We are in uncharted waters. The country is up for grabs.
Add to this toxic mix the simple fact that we've hobbled ourselves with only two political parties that may as well be clones. Thus, our options in dealing with unprecedented circumstances are limited. The monolithic political system with DC perched on top has eliminated all choices that don't involve ceding even more power to a corrupt, wasteful, and self-serving central government.