12.26.2008

Playing pool with a rope

I've been thinking a lot about how this will play out when Zimbabwe Ben prints infinite quantities of money to try to stave off deflation/depression. My current view is that Bernanke (along with our reckless fiscal policy) will succeed at destroying the dollar, but this won't bring back the economy. Something like ultrastaghyperinflation.

Mish consistently has some of the most thoughtful analysis, but if you want a concise one-pager in layman's terms, read it here at Denninger's.

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