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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (26009)3/20/2005 6:17:22 AM
From: Crimson Ghost  Read Replies (1) of 116555
 
The key point is that living standards for the great majority of Americans are headed lower.

In a gold anchored monetary system the mechanism to accomplish this would undoubtedly be deflation. But in a fiat system where the Fed can monetize almost anything if is inclined to do so I am not so sure.

The Fed can be expected to tighten just enough to prevent the dollar from totally collapsing IMHO. Once the threat of a dollar collapse is averted, I look for them to again return to their ultra inflationary ways.

And this applies double if Ben (helicopter money) Berhanke is appointed to replace Greenie.
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