December 30, 2008

Why you spend like a drunken sailor...

...in an environment like the one we're in. This is a great piece from John Mauldin discussing the velocity of money, how much it's dropped off and how much more money you have to put into the system in order to compensate and stop deflation.

This is why all of you who may be worried about inflation really better wise up and understand that the much larger problem, especially right now, is deflation. In other words, get off Washington's back. They really ARE doing what needs to be done.

And yes, it's long. Sometimes things worth knowing can't be condensed into a paragraph.

Posted by mcblogger at December 30, 2008 12:00 PM

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