Don't stop now.....

Get your shit together and hang on for the ride. Quantitative easing  starts Now.

Pay off your debts because a trade war and inflation is coming. China, especially, will need food for a growing middle class and the oil to transport it.The rest of the world is pissed and will take retaliatory action. This can't continue.

All this printing press money will have to come home one way or the other and that means inflation. That means gold, food and oil continue to go nuts and we have to pay for the gangsters ride.

And pay we will!

Calculated Risk: NY Fed: Continued Decline in Consumer Debt

This is a new quarterly report from the NY Fed ... an interesting finding is that consumers are actively reducing their debt - the decline in debt isn't just because of defaults.

From the NY Fed: Q3 Report on Household Debt and Credit Shows Continued Decline in Consumer Debt

The Federal Reserve Bank of New York today released its Quarterly Report on Household Debt and Credit for the third quarter of 2010, which shows that consumer debt continues its downward trend of the previous seven quarters, though the pace of decline has slowed recently. Since its peak in the third quarter of 2008, nearly $1 trillion has been shaved from outstanding consumer debts.

Additionally, this quarter’s supplemental report addresses for the first time the question of how this decline has been achieved and notes a sharp reversal in household cash flow from debt, indicating a decrease in available funds for consumption. According to newly available data through year end 2009, the payoff of debt by consumers reduced their cash flow by about $150 billion, whereas between 2000 and 2007, borrowing had contributed more than $300 billion annually to consumers’ cash flow.

Excluding the effects of defaults and charge-offs, available data show that non-mortgage debt fell for the first time since at least 2000. Also, net mortgage debt paydowns, which began in 2008, reached nearly $140 billion by year end 2009. These unique findings suggest that consumers have been actively reducing their debts, and not just by defaulting.