Almost everyone has something to say about the current crisis and the serious trouble our little greenback friend is in. We are about to be reminded that empires do not fall because of barbarians at the gates, wars of civilizations, or free trade. It’s the inflation that kills them.
What is stunning about the current situation is the sudden disappearance from the stage of the not-so-long-ago fashionable Keynesian and monetarist doctrines. Even more surprising, most Keynesians and monetarists speak now in the language of fundamentals about micro problems and malinvestments. FULL ARTICLE