While it took the Federal Reserve almost six years to create 3.5 trillion in new US dollar liquidity after 2008, this time around, it took only ten months to unleash a monetary tsunami of $3 trillion, with the projection of at least another $1.8 trillion next year.
The worst excuse of all is that “there is no inflation.” It’s like driving a car at 300 miles an hour on the highway, looking in the rear-view mirror and saying, “we haven’t killed ourselves yet, accelerate.”
Different people often react quite differently to the same conditions, so attempts to blame religious conflict on material deprivation fail. Ideological differences also better explain why Islam is not monolithic.
