Belmont Club

By Richard Fernandez

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Glug, glug

January 7, 2009 - 5:26 pm - by Richard Fernandez
weSwinger
2009-01-07 22:11:45

L3 has it right as usual. The striking parallels between now and the thirties are real asset deflation (real estate and equities) and the liquidity trap (credit sloshing around the system but nobody willing to lend). Of course it stops there. The Weimar Republic and the Mugabe regime chill the blood. Inflation’s clients are the creditors.

LOTM – how about the collective suicide pact of Ivy League Nincompoops?