We have been long been arguing up here on the Balcony that the current crisis is one of excess liquidity and excess leverage and so far the measures that have been taken are even more debt issued and more liquidity pumped in…
The risk of such a tactic is naturally hyper-inflation and not necessarily deflation as many fear. So personally I fully agree with Mr Faber’s view. It remains to be seen.
At least now we know that Toto were actually referring to the US in their 80s smash hit!!
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The famous National Debt Clock in New York City would then be easily transformed into the National Gasoline Price Clock.
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