Summary
Pozsar's “war” dispatches, he had stressed four themes:
- War is inflationary.
- War means industry.
- War encumbers commodities.
- War cuts new financial channels.
- War upsets all four prices of mone
Zoltan suggests reading his “war” dispatches in this order:
- War and Peace (this note, which explains how “war upsets all four prices of money”)
- War and Interest Rates (“war is inflationary”)
- War and Industrial Policy (“war means industry”)
- War and Commodity Encumbrance (“war encumbers commodities”)
- War and Currency Statecraft (“war cuts new financial channels”)
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