What's the absolute worst MMO economy?

I'm known around Massively as a total player economy junkie. Crafting is nice and all, but trading is really what gets me excited. Auction houses, hawking wares in global chat, buying and selling on player vendors -- however it's done in the MMO du jour, that's where I want to be, playing the market and PvPing via brains rather than bloodshed (shed tears are another story).

So when an MMO's economy goes belly up, I get annoyed. Really annoyed. Guild Wars 2's economy, for example, is not the shining light of the MMO industry I'd hoped it would be. It might be better than Guild Wars 1's since at least it has player crafting and an auction hall, but the supply and demand balance is an epic trainwreck, one that more resembles the tacked-on economies of games released in 2002, not 2012. I'm not sure it's the worst one ever, but it's certainly on the list.

So let's hear some others that deserve to be on the list: What's the absolute worst player-run economy an MMO's ever offered?

TH