I enjoy commentary at Minyanville. Here's one of today's writeups of Bernanke:
Fed Chairman Bernanke Calls for 25 ml Sodium Pentothal Hike
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See, when you use massive amounts of liquidity to "create" global growth, and then use that "synthetic" growth as a benchmark, inflation doesn't appear to be inflation until the pub owner turns the lights on. (Yikes, you look... different with the lights on!)
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In this case, we believe the Fed is focused on inflation at precisely the moment the cyclical upturn created by excess liquidity is ending... globally. Meanwhile, it's 4.a.m., and the structural elements of deflation and the end of the credit cycle are upon us.
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