Thanks - checkout the declines of exports of goods & services on Page VI of that report. in 4Qtr 2008. -24% -32% oofa!
Isn't the main point of the purposed hyper-inflation in the fact that the government has made so many promises to medicare and social security, that when the majority of the baby boomers retire the government will be in so much debt it will have no other choice but to print the money. Imagine if the US defaulted on payments. What would happen? It would surely be an amazing sight to see.
Do we have a perfect storm... aging boomers all over the socialized world, persistent credit freezeup problem, massive government spending, massive government debt, massive government unfunded liabilities, voting bias swinging way towards "government is the answer", currency races to the bottom... it's good to have an interesting life, it's not good to live in interesting times maybe, though...
EU is not a country. And goods + services are what I'm looking at. For Germany: http://www.destatis.de/jetspeed/por...ontent100/ahl210a,templateId=renderPrint.psml Exports for 2008, 994B euro. Lets say 1.30 ex rate ... 1.3T USD... 1.45: 1.45T USD. Post China's specific stats when you find it... but it is around 1T.
Now here I go with easy wikipedia quotes: http://en.wikipedia.org/wiki/List_of_countries_by_exports_per_capita
Here's why inflation is almost dead certain down the road http://macrospeculations.blogspot.com/2009/04/bernanke-inflation.html
"Down the road" is a little vague isn't it? DOW 40,000 is also "dead certain down the road". Maybe in 2025 or 2100. High inflation, how high? 5% annually (not a historic outlier) or 25% (high historically). When? In 18 months? Or 18 years?