Cesar Valencia

Things Could Be Worse...

The point that should be taken from here has nothing to do with how big is the deflationary portion of this crisis (call it recession or depression), it's the aftermath after credit expands again. All this liquidity will end up causing hyperinflation.
Again, just so everyone can understand. AFTER the recession, the risk for hyperinflation will be enormous. Going into this without a real strategy will curse all of these economies. What brought us here were all those shortsighted policies that could not foresee the consequences down the line. We should not fall for that mistake again.