The current monetary inflation that is the Bernanke boom-bust-to-be is already multiples larger than the monetary inflation that produced the tech bust and, at this point in the boom-bust cycle, even larger than the inflationary surge that gave us the housing bust turn Great Recession.

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At that point the bust is inevitable.

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At which point they go bust and much of the European banking system fails with them.

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Only when the economy is in boom or bust will all the data point consistently in one direction.

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They have a point: The government is so bust that it wouldn't qualify for a microfinance loan to buy a chicken coop in an African village.

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As both Krugman and Yglesias point out, the Cypriot banking system is bust, gone.

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At which point people scrambled to get nickel projects going again, the new owners of the bust plant got it sorted out and prices came back down again.

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