Status Updates From Economic Depressions

"the depression is the process by which the market economy adjusts, throws off the excesses and distortions of the previous inflationary boom, and reestablishes a sound economic condition. The depression is the unpleasant but necessary reaction to the distortions and excesses of the previous boom." p. 25

Awesome book right off the bat. Learning about inflating the money supply will cause the price of goods to rise, which will subsequently will reduce the competitiveness of the inflating country's export. This will reduce the amount of export, and increase the amount of imports. This will lead to a reducing in revenues from the inflating countries businesses, which in turn, will lead to a trend of defaults.