Hyperinflation? – US dollar set to be major casualty of Hank Paulson’s bailout
The London Telegraph, Wed 24th of September
The US taxpayer bail-out of America’s banking sector is an event whose significance will reverberate for many years. What it means for free markets, for the way Western economies are run, for the prosperity of the world economy, must remain to be seen.
When Treasury Secretary Hank Paulson announced that the world’s biggest economy was about to embark on the world’s biggest bail-out for its financial sector, the first concern economists had was about the long-term prospects for the nation’s finances and its currency.
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I’m not sure if I like the 700B bail out. The 70B bailout of AIG I thought was a good move by the gov, because it would reak major havok on the world.
All the 700B would do is make the dollar the next peso (while driving gas up to $6/gallon +)
Just let the recession run it’s course.