Someone Has To Lose

In case you haven't noticed, we are still in the throes of a global currency war. That currency war is part and parcel of the ongoing, coordinated effort to keep monetary policy accommodative, a state of affairs that's supposed to serve as a kind of garlic clove to the deflation vampire. Of course if weaker currencies are good in terms of stoking inflation, well then that means that when one country starts easing, other countries have to follow that country down the easing rabbit hole assuming