Tim Price: What Is The Consequence Of Printing Money That Nobody Wants?

Stagflation– the utterly painful combination of stagnating growth and steep inflation that marked the 1970s– and will be the natural side effect of extended central bank quantitative easing during a period of widespread deleveraging.

Oh, goody.

By definition, we cannot shrink our way back to the sort of growth required to service the West’s accumulated debts. Something has to give.

That something will ultimately be social and political disorder on a continent-wide basis, particularly as the taxpayer becomes increasingly frustrated in his obligations to fund the rapidly growing and untenable costs of Big Government.

At least this is America, not Europe! It couldn’t happen here.




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