http://bullnotbull.blogspot.com/2006/12/fiat-empire-closer-look-at-federal.html
Clearly a whole lotta WORD inflation goin' on out there.
Some people are just too smart.
Thanks for calling this to our attention. Very interesting.
Blah, blah, blah blah, blah, blah, ...
Inflation steals from lenders in favor of borrowers, because they can pay a loan back with less valuable money. Deflation reverses the advantage.
Government that issues debt, especially debt it has no intention to really repay, has a vested interest in ongoing inflation, as long as it does not get so high as to cause a political revolt.
Our Federal Reserve, a private corporation whose shareholders are exclusively financial institutions and not the government, has a policy of deliberate inflation, with a stated "target" of 2%.
The only way to kill the monstrous theft that inflation causes is to do away with fiat money.
I still think the government will eventually inflate its way out of this country's massive debts. Deflation, on the other hand, is best explained by a close reading of Steinbeck's "The Grapes of Wrath."
Is anyone wondering who these "deflationists" are?
This article sounds like it was written by or under the direct supervision of the fed.
Some of us are not fooled.
save for later
Because that would cause the Fed to fail in its mission to keep the frog from jumping out of the pot of boiling water.
BUMP
Hmmm. Thinking about this...
Mike Shedlock's blog at globaleconomicanalysis.blogspot.com has excellent economic discussion. The main theme running through the daily conversations is the deflation vs inflation debate.
And now ten seconds after making my first post, I see that Nystrom references Mike Shelock (Mish) in his article.