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Politics : President Barack Obama
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To: koan who wrote (54355)5/9/2009 3:22:01 AM
From: nigel bates  Read Replies (3) of 149317
 
>>Krugman says the stimulous spending is not straigthforward hyperinflationary for mathematical reasons having to do with deflation and a subdued economy<<

Krugman is right only in the short term.

The longer term outcome depends on whether government has the discipline later on to halt monetary expansion.
I don't know about the US, but looking at the UK's fiscal forecasts for the next decade, I have almost no doubt that our government will succumb to the temptation of inflating away its debt.
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