Very Scary Sight

[stocky]

I have seen something on tv the last 2 days that makes me very scared about the future for cattlemen or farmers. Pres-elect Obama has been constantly on tv with his group of advisors and inner circle. In every picture, right behind Obama over his left shoulder is Paul Volcker. Remember Paul Volcker? He was the Federal Reserve Chairman during Carter's term and into Reagan's term. His answer to everything was raise interest rates. Farmers in my area ended up paying 23 percent interest rates and most lost all or most of their farms. Most people here remember those horrible times. I cannot believe no one on any news station has pointed out that the man who engineered the worst inflation in history and destroyed so many livlihoods is now Obama's main financial advisor. I do not mean for this to be political, and if it is viewed that way, it will be locked. I only mean it as something scary that each of us needs to consider in our business and life decisions.

 

[Oldtimer]

Many of the economists are now saying that when the economy finally bottoms out and turns around a little- inflation could be a major problem-- and that if that happens it might then require raising interest rates to stem the inflation....