Peter Schiff once joked that Obama should have appointed Bernie Madoff secretary of the Treasury. The government's easy money policies ultimately lead to Ponzi schemes.
After more than a decade of monetary stimulus fueling elevated asset valuations and incentivizing an enormous leveraged bet on risk, a soft landing is impossible.
Inflation in Argentina is far worse than neighboring countries. It has only one cause: an extractive and confiscatory monetary policy—printing pesos without control and without demand.
