The Fed is attempting to thwart a deflating credit bubble with inflation, which to date has only lit a fuse under food and fuel prices. The best the Fed can do is to allow the inevitable deleveraging process to proceed without the meddling.
~ Kevin Duffy, Bearing Asset Management, "They Said What?," Barron's, June 16, 2008, by Robin Blumenthal
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment