A choice of poisons
Richard Daughty
...the angriest guy in economics
The Mogambo Guru
Jul 21, 2005
Total Fed Credit, the marvelous, magical wellhead from which flows the fabled "money from thin air", is again sputtering and drying up, and it went down by $3.8 billion last week.
But when price inflation starts getting going, bad things happen, and people get grumpy, and then politicians start taking heat, and they don't like that. Then, as the government hurriedly tries to create and spend more money to alleviate the pain, they just make it worse and worse, and then prices increase more and more, and soon there are food riots in the streets, and then there is increasing societal collapse, and pretty soon the country is in a shambles, and tribal warfare breaks out, with murder and robbery and mayhem everywhere...