Mish's Global Economic Trend Analysis: Mr. Practical on the Yen, Carry Trade, and Credit Expansion

Mish's Global Economic Trend Analysis: Mr. Practical on the Yen, Carry Trade, and Credit Expansion: "But these are not normal times. With GDP growing at 2-3% (I believe this to be overstated) and M3 (broad money) growing at an astounding 13% for the world’s largest economy, we have our first clue that things are not normal. Money is free to any who want to take the risk. When money supply grows you can by definition be sure that debt is growing commensurately. Debt is not used prudently because it is created easily for anyone and everyone out of thin air by central banks. Almost all of the current liquidity is coming from debt creation. This is the definition of inflation."