Hi csl,
At what point do the hyperinflation folks admit their argument has burst? I think I've heard a pop more than once, in fact!
Folks are investing in Treasuries at the lowest rates in living memory. This is something real, rather than speculative. The Keynesian theory predicted this scenario. It suggested deflation was the issue rather than inflation. It said we have a crisis of demand rather than an issue of cost expansion. So far, this analysis has been reflected in the performance of the economy almost exactly.
The right wing analysis has only wild theories of the future to content itself as its analysis of events has been a disaster. Bush economics created this catastrophe. It is not the thing to turn to for help getting out of it. Although sadly, Republican obstructionism and policy priorities have made this worse than it might have been. The stimulus was not sufficiently large, as folks like Krugman, Roubini, Stiglitz and Cactus suggested when it was adopted.
!!
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