– May 9, 2013
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by Alex Chafuen

Before jumps in inflation I used to see articles like this in Argentina.  This piece by Steve Conover appearing in the AEI magazine argues that the “[l]ack of sufficient economic growth is behind most if not all of our fiscal and monetary problems,”  and so printing money is not so bad. The current manipulation of money and credit is very dangerous.  No doubt that an increase in the demand for cash holdings (what some call “velocity of circulation,” as if money would have an engine. . .) can off-set the printing of money, but there is a limit.

Read the article at the American.com…

image: flickr.com/proimos/

 

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Alex Chafuen

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