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Lapel, In | In a nutshell, that is what I said a couple weeks ago.Those stimulus dollars setting in banks are not going to create inflation. Velocity is needed before any inflation will occur in this situation.Its kind of like a dog chasing a cat while the dog is only walking. If anything, I see velocity slowing down even more in the next several months.
The BIG mistake was in not giving the stimulus to the public and even then it would not have worked very well . But it would have been MUCH more beneficial that what was done with the money. It could have retired a lot of debt with the money going to the banks anyway.
Edited by msb 1/9/2010 21:49
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Here we go
