In the fall of 2008, the Federal Reserve responded to the Lehman bankruptcy by igniting a rapid expansion in the US money supply. It did so because, by its lights, the immediate and obvious menace to the economy was a deflationary collapse – with one giant bankruptcy begetting another.
February 15th, 2011 | Terry Coxon | 0 comments | ContinuedToday is Wednesday, May 16th, 2012
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