8.02.2010

More on Austerity vs. Devaluation

at ZeroHedge.

Either or? I think it's gotta be a little of both.

We're in a giant hole. Austerity is how we stop digging. Then devaluation is how we start getting out.

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Milestones

I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.