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The longer you practice monetary easing, says former Polish central-bank governor Leszek...

The longer you practice monetary easing, says former Polish central-bank governor Leszek Balcerowicz, "the more difficult it is to exit it. Japan is trapped." The dollar allows the U.S. to "get a lot of cheap financing to finance bad policies," which is "dangerous to the world and perhaps...to the U.S." Balcerowicz's "shock therapy" slayed hyperinflation in Poland when communism fell, while his hard-money policies as central bank governor helped avoid a credit boom and likely bust, and possibly recession in 2009.
Comments (2)
  • untrusting investor
    , contributor
    Comments (9966) | Send Message
     
    Balcerowucz is a man with considerable practical and governing experience and one of the few in the world who has the courage to talk about fiscal and monetary policy that actually just might help country economies to recover over time.
    16 Dec 2012, 10:14 AM Reply Like
  • rambler1
    , contributor
    Comments (481) | Send Message
     
    Agree. The Wall Street Journal interview with him was excellent. Too bad nobody in the fed reads it, and if they do have the courage to act.
    16 Dec 2012, 04:10 PM Reply Like
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