The Path to Economic Disaster

by Conrad Black

From my most recent NRO article, on today’s economic follies: “Federal Reserve chairman Ben Bernanke’s plan to buy back $600 billion of outstanding U.S. Treasury bonds is an astonishing act of brinkmanship, splendid in its boldness, perhaps, but in fact, insane. It is the desperation throw of a country that will appear to have abandoned all hope of retaining for its currency the respect of the world, and of paying down its own gluttonously accumulated debt, and will instead just devalue the currency in which the debt is denominated.”

Whether you agree or disagree, your comments are, as always, most welcome.

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