fiat

Heading for a fall, by fiat? Since then the world has relied on “fiat money”, so-called because it is created by government fiat and is backed only by the promises of central bankers to protect the value of their currencies

[WASHINGTON (Reuters) - The U.S. economy expanded briskly in the third quarter on a wave of consumer spending, the Commerce Department confirmed on Friday, but growth is forecast to slow sharply in the closing months of the year.] Ok, it does not take a rocket scientist to figure out that THINGS ARE BAD! The question is, how much worse will they get? The best way to understand the economy is to think of it as a horse. This economic ''horse'' has four legs: (1) Government spend...