Bill Bonner is the Founder and President of Agora Publishing, one of the world's most successful consumer newsletter publishing companies, and the author of The Daily Reckoning. Bill Bonner is also a frequent contributor to Strategic Investment. Bill Bonner is the author, with Addison Wiggin, of the New York Times business best-seller Financial Reckoning Day: Survivng The Soft Depression of The 21st Century.
The Fed could continue the fight against inflation - and risk crashing against the rocks of a recession. Or, it could turn to face the deflationary threat - and wash up on higher inflation rates.
Whatever the Chinese may lack in quality, they more than make up for in quantity. Working stiffs in the West may be better skilled, but like Custer's men at the Little Big Horn, they are being overwhelmed by the numbers.
The consumer economy depends on consumers with money in their pockets - or at least a line of credit. Now that house prices are no longer going up, consumers are running out of spending money.
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