“Banks are enjoying a fresh wave of profits from the government’s efforts to nurse the industry back to life. Ultralow interest rates have led flocks of consumers to seek deals on mortgage loans. Investment banking and trading activities are enjoying a bounce from the billions of dollars spent to thaw frozen credit markets.” (New York Times, Friday)
All the signs of the next inflationary boom.
FEE Timely Classic
“Inflation Is a ‘Phantom Menace’? It Just Ain’t So!” by Gene Callahan