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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (76641)12/26/2006 1:17:32 PM
From: Mike Johnston  Read Replies (2) of 110194
 
I think where Mish went wrong with his analysis is that he has underestimated the willingness of central banks to create as much fiat currency as they did AND the public's ignorance in being fooled by the fraudulent CPI/money supply statistics.
I don't blame him. I have made the same mistake and it cost me quite a bit.

And this is all childs play in comparison with the amount of currency that could be created if the Fed uses unconventional methods, in the latter case new money can be created not only by creating new credit but also through elimination of credit (fed purchasing notes with new money and then shredding those notes)
And this is where the "deflation story" dies.
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