Ed Driscoll

'The US Has Lived on Borrowed Money for Too Long'

With QE2 setting sail to fiscal points unknown, Der Spiegel has a timely interview with German Finance Minister Wolfgang Schäuble:

The American growth model, on the other hand, is in a deep crisis. The United States lived on borrowed money for too long, inflating its financial sector unnecessarily and neglecting its small and mid-sized industrial companies.

Considering Germany’s past experience with hyperinflation…

…that seems like remarkably good advice to take.

And as I’ve noted before, whenever America wants to craft some similar looking million-dollar notes to buy a 12-pack of Diet Coke and some Charmin, the template is all set to go. Just add six digits or so worth of zeros to this Barack to the Future design:

Related: “Inflation? What Inflation?”