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HomeDollar Devaluation, Stagflation, and How “You’re Getting Screwed”
Posted by Larry Doyle on April 29th, 2011 8:12 AM |
“Remain calm, all is well!!”
Such would seem to be the message put forth this morning by The Wall Street Journal’s lead headline, Officials Unfazed by Dollar Slide,
In recent days, the nation’s top two economic policy makers—Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim Geithner—have publicly expressed their desire for a strong dollar. But there is little indication of a change in policy from either the Fed or Treasury—or in underlying economic conditions—that would alter the currency’s downward course.
When thinking of Bernanke and Geithner, who do you think of first, Abbott and Costello or Laurel and Hardy? I am more in the former camp. “Hey, Abbbbbotttttt!!” (more…)
