“Deflation is not such a bad thing if you have to live on your savings or a modest, nominally fixed payment stream. Additionally, reshuffling the economy’s deck of cards could also offer opportunities. Tearing down the old structures and allowing the market to price things honestly again, according to real risks and truly available savings, may at first cause some shock but ultimately bring new possibilities. The present monetary policy is inherently conservative. It bails out those who got it wrong in the recent crisis at the expense of those who didn’t even participate in the last boom.”
http://detlevschlichter.com/2013/05/is-present-monetary-policy-rational/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Sitka Pacific Strategy Letter, August 2013
Mises Explains the Drug War
The Social Deterioration of Funny, Floating Money
Judge Agrees: The Constitution Is a Sham
Putin was wrong: The exceptionalism of the United States is alive and real
India: Emerging from Poverty or Stuck in the Past?
Trans Pacific Partnership Is about Control, Not Free Trade
What's Up with Inflation?
Aye, Me Hearties—Why There’s Still Old-Fashioned Treasure Out There
How has this not led to outright revolution yet?
Competing currencies saved Zimbabwe from hyperinflationary collapse
Robert Ringer: The Illusion of Misfortune
Is the National Security Agency behind Bitcoin?
Will Grigg: "No Hesitation"
Larken Rose: "It Can't Happen Here!"