Home > Fiscal Armageddon, The Makian Distribution > Deflation then inflation…

Deflation then inflation…

I like this piece from Nadeem Walayat, Market Oracle editor.

But how do you pump debt-money into an economy going broke?  To whom are you going to lend this newly created debt-money?  Who is idiotic enough to borrow in this environment (other than the govt, of course)?

I’m still in the deflation camp because I can’t see the mechanism by which Zimbabwe in the West becomes a reality.  Unless the central banks start LITERALLY showering us with fiat paper money from UN black helicopters, I can’t see it happening.  And somehow I don’t think that Ben will order the helicopters to be fired up for anyone but Goldman Sachs.

Yes, I can see isolated “Icelands” occurring on the periphery.  I’ve already stated that some time ago and have recently identified Greece as the next Icelandic candidate.  But I don’t see the US being able to “achieve” inflation even if they wanted to.  Japan tried to inflate for over a decade and it couldn’t.  Will the US be any more “successful?”

When paper money starts being tossed around in the streets like confetti, wake me up and I’ll switch sides and dive into the inflation camp.  Until then, please don’t disturb me.  I’m dreaming of deflation.

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