notices - See details
Notices
NM
Norbert Mittwollen (not verified)
2nd August 2020 | 12:48am

"...all that money printing has not only not led to inflation but, if anything, had deflationary consequences..."

If it has these consequences, why do CBs go on printing money like crazy in the first place? Shouldn't they stop with it rather sooner than later to prevent prolonged deflation?

Enjoying stable economic conditions of moderate growth and lately balanced budget in austere Germany to the envy of southern countries for long, I can confirm that inflation phobia is not the worst state of mind.

Thus, your seemingly contradictory claim that "fiscal belt tightening... has caused more damage to growth..." is a bit puzzling. Or was it meant to point out the paradoxies of new or rather "alternative facts", becoming more and more popular?

The final recommendation to change opinion reminds me of the "new economy" bubble until 2000. Fortunately, my German phobia and contrarian resistance to change my opinion according to alternative short-term facts saved me from the severe consequences after 2000. Thus, I prepare for the worst and hope for the best as ever since the late 1990's.