Wednesday, Jan 16, 2008
Stagflation ahead
Safe Haven: The Fed's 20-Year Misguided Monetary Adventure
This guy puts a decent case for stagflation.
I think his stagflation model could lead into a depression if assets fall so hard they drag down consumer prices.
Posted by sold 2 rent 1 @ 03:20 PM (369 views) Add Comment
2 Comments
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1. sold 2 rent 1 said...
2. Icarus said...
Near the end of the piece he says 'this time it's not different'. But the only other time there was a similar debt bubble was the Depression of the '30s. Also the US had savings and a current account surplus back then and this enabled the debt to be financed. No such liquidity buffer exists in the US now.