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The Road to Perdition

By Implode-Explode Heavy Industries

``Bernanke wanted to see his inflationary policy to have clearly discernible inflationary effects in the form of rising prices, and he sure got his wish. Along with this comes the usual inflationary illusion of 'economic growth', which we think should rather be termed 'capital consumption disguised as growth' that makes it appear as though the policy was 'working'. It does so by misdirecting scarce capital into unprofitable ventures and creating illusionary profits, while in reality impoverishing us even further. '' -- Very long but you can get the gist in the first couple sections if you don't have much time.

Full post as published by Mortgage Lender Implode-o-Meter on February 08, 2011 (boomark / email).