Thursday, October 22, 2009
McAlvany Weekly Commentary, Oct 21, 2009
Our Listeners Questions Answered
October 21st, 2009Past Archived Shows Referenced in Today’s Commentary:
New York City Defrief: http://www.mcalvany.com/podcast/?p=99
The Silver Lining: David Morgan: http://www.mcalvany.com/podcast/?p=96
The Perspective Triangle Video: http://www.youtube.com/watch?v=XYDmYA2gAac
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Trends Journal, History of the Future (Autumn)
for your complimentary Trends Journal issue click here
French official says U.S. trying to inflate away debt
The United States is pumping out liquidity to try to inflate away its debt, leading to the depreciation of the U.S. dollar, Henri Guaino, a top advisor to French President Nicolas Sarkozy said on Tuesday.
He told reporters on the sidelines of a conference of Sarkozy's ruling UMP party that the United States was 'flooding the world with liquidity'.
Guaino worried about a risk of an inflationary cycle.
'Historically, we have only ever got out of such situations with inflation. We can also get out with deflation, but it's much more painful politically, socially,' he said. (more)
Is a Weak Dollar a Strong Sign? Not So Fast!
Readers of George Orwell’s 1984 might recall Big Brother’s claims that "war is peace" or "freedom is slavery." Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s "Ministry of Truth."
Today, the champion—the uncontested champion of Orwell’s "truth"—is Paul Krugman, the 2008 Nobel laureate, Princeton professor, and New York Times columnist. For those who read his twice-weekly column or glance at his blogs and commentary elsewhere, it is like reading the latest pronouncements from the "Ministry of Truth," and, like in Oceania, it seems that the masses believe the nonsense. (more)
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