tag:blogger.com,1999:blog-11719208.post7133499983670929731..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: William White: "It's 2003 all over again"Timhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11719208.post-74368015570962286132009-11-12T11:23:21.134-08:002009-11-12T11:23:21.134-08:00Central bankers are fond of claiming that printing...Central bankers are fond of claiming that printing is "medicine". This is a false analogy. Printing is actually an additive drug. When the addict starts to go into withdrawal, the central bank give the hapless addict more heroin to mask the pain.<br /><br />Unfortunately, long term addiction tends to destroy the addict. Economies addicted to printing tend to eventually have serious problems because of it. I am glad that people like William White are trying to set the record straight.Anonymousnoreply@blogger.com