Sunday, Mar 22, 2009
Irwin Stelzer comments on money printing
Telegraph: Soon there may be nobody left to lend to America
"Anyone who thought Ben Bernanke and his Federal Reserve Board colleagues were out of ammunition received a rude, or pleasant, shock last week. Rude, if you worry that a few extra trillions sloshing around the economy might one day trigger a wave of inflation; pleasant, if you worry that the economy is sinking fast, and the Obama administration and Congress haven’t a clue what to do about it." ... "Chinese premier Wen Jiabao said he was “a little bit worried” that America might cheapen its currency and pay back the $1.2 trillion it owes in depreciated dollars. Now that the Fed has moved, he must be a lot worried."
Posted by quiet guy @ 08:53 AM (800 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. crunchy said...
Look if we keep pumping trillions into the system something good is bound to happen. Ron Paul (the pain that will not go away) keeps reminding Ben Bernanke of the fact that this may not work because the money is not true capital and Bernanke just keeps on ignoring him. Shooting live rounds in the dark for sure.
2. mountain goat said...
"Earlier, Chinese premier Wen Jiabao said he was “a little bit worried” that America might cheapen its currency and pay back the $1.2 trillion it owes in depreciated dollars."
Pay back! LOL
3. crunchy said...
The vicious circle of funny money.
The faster you print the less it's worth, then inflation brings everyone back down to earth.