12 Sunday Sep 2010
Posted | September 12, 2010 10:09:00 | Uncategorized
The following is in reference to Instant Insanity – my comments on three whacko ideas by Willem Buiter, chief economist for Citigroup, to cure deflation.
Please give it a look if you have not done so already.
Given enough time, all fiat currencies go to zero (relative to some starting point). 2% inflation a year is enough to do it. This should not be confused with hyperinflation, a complete loss of faith in currency.
Mike “Mish” Shedlock
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