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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (242874)5/28/2003 5:17:51 PM
From: UnBelievable  Read Replies (1) of 436258
 
"unless the central banks commit suicide by throwing money from helicopters"

I think they way it will work is the Fed will throw the money at the Federal Government who will then throw the money at helicopters, social security, medicare, medicaid, unemployment, homeland security, and what not.

I hate to disagree with the esteemed poster but it just isn't clear that working with the Federal government who is willing to spend furiously, and with no reason to be concerned about a slide in the dollar, that the Fed can't substitute an inflationary contraction for a deflationary one.

Deflation transfers wealth from debtors to creditors. Since the US is the debtor and the rest of the world is the creditor I just don't see the Fed letting that happen.

IMHO the credit bubble is not going to be allowed to burst -its going to be monetized. I'm sure that at this point AG feels that letting one bubble burst is enough for a lifetime thank you you very much.

Bursting the inflation bubble will be someone else's job.
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