2011-03-03 — financialsense.com
``I don’t think that this has ever happened before in the USA. The examples I can think of in history outside of the US all ended badly. Ben has set monetary policy so that interest rates are 5-6 % below inflation. There can be only one possible result.Inflation of everything we use is going to explode. Food, clothes, energy, transportation, ball bearing, plastics, you name it. The only thing that is not going to get inflated is wages and residential real estate. Cheap money will not fix structural problems. I was glad that Ben put a number on what he has done. I didn't think it would be as big as it is. It’s so big that it is irreversible. That’s not what Ben has been contending. We are going to find out before the year is up.''
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