Isnt keynesianism great?
The worst is that this reaction of these dumb-ass third world* central bankers isn't really Keynesian.
The reason they want to devaluate their currencies is because they want to boost exports. You know, it's always better to sell than to buy, right hein?
Impressive. It's pure "mercantilism", centuries after it has been proved a wrong economic thought.
And then, of course, the means through which they will promote this devaluation is through Keynesian ideas, what will make things even worse than plain simple inflation. Following a bad idea through horrible means.
I hope Marc Faber is wrong and this crisis does not end up in a war.
* Before the politically correct police jumps on me, let me just say I'm a "third world" citizen.