gmallast Wrote:
Nov 15, 2012 9:21 AM
I hate to throw a wet blanket on your predictions, but I would think many, if not most, CEOs and CFOs of large oil companies can tell the difference between a real increase in prices due to a real increase in demand and a price run up based on flooding the market with Federal Reserve funny money. Keynesianism is based on t he premise CEOs and CFOs are idiots who will increase the demand for capital goods on the basis of--nothing. Of an increase in the money supply. I can't buy the idea that in the long run, or even the short run, they are really that stupid. For three centuries going back to John Law's Mississippi Scheme which blew up in 1720, inflationary stimulus always resulted in a bubble which burst.