The Daily Bail
October 25, 2010
- A d v e r t i s e m e n t
Andy Xie is the former Chief Economist for Morgan Stanley.
Enough is never enough for Paul Krugman – and other instances of behavior leading the world toward high inflation and political instability.
• “The stimulus has failed. How should one interpret the result? If you were Paul Krugman, you would say it wasn’t enough.
• “Of course, if 20 percent of GDP in budget deficit and another round of QE still don’t work, he would say not enough again. You can never prove Krugman wrong. Such a smart fellow.”
The world seems full of smoke ahead of a world currency war. The weapon of choice is quantitative easing, a.k.a. QE. If you print a trillion, I’ll print a trillion. Of course, he and she will too. No change in exchange rates after a trillion? Let’s do it again, QE2. If you listen to people like Geithner, the end of the world is quite near. Rich people everywhere are buying gold for a little peace of mind, not just the Chinese. They are literally trucking it by the ton or two home. When currency values vanish in a QE melee, at least the rich have the gold to stay rich.
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