Persistent global imbalances, the global financial derivatives Ponzi scheme,
and financial bubbles of the last 10-15 years resulted in the deepest global
financial and economic crisis since the Great Depression. The situation remains
very fluid and is constantly changing. This financial blog is devoted to the
discussion of existing global imbalances,  ongoing global financial and economic
crisis, inflation/deflation debate, possible implications of the monetary policy
of US Federal Reserve, other Central Banks and stimulus actions, and possible
future directions the financial crisis may take.