Central Banks: Print Fast, Print Hard
Paulson, unlike Congress, wants to throw everything the United States has into fighting the deflation afflicting American banks right away. And Bernanke - a scholar on monetary policy - understands the cost of inaction from examples like the Great Depression (when the Fed failed to address deflation until the latter half of the 30’s) and Japan’s lost decade. History strongly suggests that any delays or lack of sufficient funds committed to blasting away at deflation can be painful. So in my mi
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