Well the US joins the UK and Japan in basically what amounts to printing money.
http://business.smh.com.au/business/us-prints-money-to-stave-off-deflation-20090319-93bl.html
"An investment manager at Supervised Investments, Phil Carden, said the move to create money "out of thin air" was "hugely inflationary".
"It's a direct and blatant attempt to ignite inflation because they're scared of deflation," he said.
He said it was the lesser of two evils, as deflation was a bigger menace to the US than inflation. If asset prices started to fall across the economy, it would threaten the country's ability to pay back $US11 trillion in national debt, he said."
Will be interesting to see if they can get the balance right and not stuff it up completely and end up like Post WW1 Germany or current day Zimbabwe..
I see the US dollar has already fallen against most other currencies on this great news.
I wish I had my own printing press, I could give them a helping hand and print off a few billion dollars..
http://business.smh.com.au/business/us-prints-money-to-stave-off-deflation-20090319-93bl.html
"An investment manager at Supervised Investments, Phil Carden, said the move to create money "out of thin air" was "hugely inflationary".
"It's a direct and blatant attempt to ignite inflation because they're scared of deflation," he said.
He said it was the lesser of two evils, as deflation was a bigger menace to the US than inflation. If asset prices started to fall across the economy, it would threaten the country's ability to pay back $US11 trillion in national debt, he said."
Will be interesting to see if they can get the balance right and not stuff it up completely and end up like Post WW1 Germany or current day Zimbabwe..
I see the US dollar has already fallen against most other currencies on this great news.
I wish I had my own printing press, I could give them a helping hand and print off a few billion dollars..