From: The Daily ReckoningComments:
What words need to be added to a chart like this?
Without increasing levels of credit, there is no recovery.
We need deflation to do its painful work and correct our bad investments.
Then, once the bad debt is eliminated, the true and honest recovery can begin.
While we are hopeful that monetary policy will change and allow this to occur, our concern is, that at some point, a gang of Keynesian money printers will deny this truth, seize control of the printing press and flood the country with fiat currency.
If this happens, there will be real trouble.
Reflection of the day:
"For this cause I was born, and for this cause I have come into the world, that I should bear witness to the truth. Everyone who is of the truth hears My voice.”
John 18:37 NKJV