03 Jun 2009


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Bloomberg (HT2LRC) reports that Marc Faber is predicting Zimbabwe for the US economy:

The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.

Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe chance to put parts of that nightmare behind us.

Tyler’s not exactly pulling a Kudlow here, but I think it’s close.

* Robert Wenzel sends this story on the Fed no longer seeking the power to issue its own debt. Instead it will rely solely on paying interest on reserves if it wants to contain price inflation without reducing the Fed’s balance sheet.

* What are the chances? There is apparently another consultant named Robert P. Murphy who also works in Nashville. Now I know why I’m still not rich–this guy is obviously intercepting a bunch of my business.

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