Making America great again. Greater than ever. Asset inflation forever, or until nature says no.
China has built out great cities, thousands of square miles of factory space, road and railroads ($67bn invested in rail there the first 3 quarters this year) galore and on and on and on, and it has all been a monetary phenomena. So growth has slowed to 6.7%, boo hoo. Do you think they are going to let 300 million people slide back into extreme poverty by allowing debt defaults? I know this sounds crazy but balance sheets are a thing of the past or at best a polite fiction. Nobody ever has to default if they can borrow more, forever.
And we are going to allow deflation here? No.