Sounds suicidal.
An excerpt from Bill Bonner's daily newsletter. Bill is a bit too libertarian for my tastes but always interesting to read.
Either they voluntarily abandon their inflation policy…or let it run its course.
The pain will be severe, one way or the other. Stopping inflation now will mean huge losses on stocks, bonds, and real estate. Businesses will go broke. Millions will lose their jobs as the economy corrects two decades of Fed mischief.
But sticking with the inflation policy will be much worse. The longer it goes on, the more distorted, indebted, and fragile the economy becomes. ‘When the money goes, everything goes’ — including the political system…and the social norms that a civilised society depends on.
That said Japan is still a very cohesive society, but I guess the yen is only just starting to lose the trust of the world markets.
Tough choice but Adrian earns over $700,000 a year and owns a couple of houses so you can guess which way he would lean if making a choice between the two options.
Be great to hear how Tesla God is getting on, his faith in central bank lunacy may have been shaken. It may be tall poppy syndrome or envy but it is hard not to enjoy (just a little bit) the potential downfall of someone who has been so definite/smug.
Maybe "downfall" is too harsh but "an opportunity to see an alternative view".