The Residential Real Estate Post-Crash Index-MODERATED Message Board

To: Mike Johnston who wrote (60236)	2/18/2012 3:34:43 PM
From: GST	9 Recommendations Read Replies (2) of 92497

Mish did not know that we live in a global economy -- he had no clue what happens when you can't pay your debts in a global economy -- your currency goes poof and has no value. Just stop and thnk for a minute: If Greece is kicked out of the Euro, do you think they will have 'deflation'???? Get a drip -- they will have debt defa ult and MASSIVE inflation. Mish was so incredibly wrong it is hard to begin to overstate it. Greece can forestall the worst of the coming inflation if Germany bails them out. In the US we used our global reserve currency status to bail ourselves out. In neither case is inflation defeated -- it is simply kicked down the road to appear in a more fearful wave. The euro is being set up to get trashed -- as is the dollar. Mish was not a little bit right or right except for TARP etc. Mish was dead wrong because he had no clue as to the fundamentals of the global economy.