/biz/ - Business & Finance

>>20602109
Incredibly retarded comment, couldn't be more off the mark.

The entire point of Winter is Coming is that it's a simple metaphor that the extreme hardships are coming, not that the literal season Winter itself is coming. While Westeros was experiencing it's longest Summer in history, everyone got drunk, feasted, fucked and ate all their food and fought pointless and endless wars wasting all their output not understanding that the longest Summer could mean the longest Winter. And when Winter finally came with it's famines and undead armies, Westeros was literally bankrupt and up to their eyeballs in debts, starved of resources and manpower. All realms and houses drop one by one. The only thing that may eventually save them is Daenerys, also called "The Silver Queen..."

>Sounds familiar...

While we experienced the longest economic expansion in history, with the greatest gains in the Dow and S&P, Schiff has been warning us of our insane levels of debt in government, households, and of functionally bankrupt zombie companies. While the times were good, we cut taxes and let the corporations buyback their shares, effectively wasting their debt instead of strengthening their balance sheets and creating war chests. We refused to raise interest rates from the rock bottom while we still could, suffering a little pain so that when the eventual recession came, and like Winter it always does, we would have more ammunition to fight against the deflation boogeyman, leaving a buffer between us and the extreme pain. And now that the recession is here, we're already at the 0 bound with nowhere to cut but negative. Companies are dropping dead one by one and will continue to, then quite likely the currencies will drop one by one, breaking their pegs and going to 0 until the Dollar itself breaks, and the US defaults. The only thing that may save us is a hard reset, and a return to hard money. Gold. Silver.