interestrateripoff, on 21 February 2012 - 08:07 PM, said:
Not really consistent with the picture of unstoppable deflation that some misguided sorts here seem to think is happening, is it?
Deflation can always be counteracted by money printing. You just can't ensure that the money spreads evenly throughout the economy so you end up with some things suffering strong price inflation (where the money goes) and other things continuing to deflate in price.
You also end up destroying the very credibility of your currency but there's probably some way to go before we cross the rubicon. Plenty of wealth to be looted by insiders who get their mitts on the new money first, in the meantime.