Mike ‘Mish’ Shedlock - Monopoly Money vs. Bernanke Money, is there a Difference?

If massive inflation was coming 10-year treasury rates would not be yielding a record low 1.60% and consumers would certainly not be deleveraging!

Might massive inflation be coming down the road?

Certainly, but it will take a change in attitude by consumers and banks or massively reckless policies by Congress.

Interestingly, Congressional policies are indeed "massively reckless" just not reckless enough yet. The emphasis is on "yet". I will not be a deflationista forever, but I remain one for now.

Read it at Mish’s Global Economic Trend Analysis
Monopoly Money vs. Bernanke Money, is there a Difference?
By Mike ‘Mish’ Shedlock

Mish argues that the Fed’s ability to generate inflation in practice is quite different from their theoretical ability. I couldn’t agree more.