Inflating the money supply (aka creating massive inflation) during a crisis and going into massive debt is like trying to dig your way over a mountain. History should be our guide, not Keynesian vudu. Actual transcript from Powell during his interview on 60 Minures below: https://www.cbsnews.com/news/coronavirus-economy-jerome-powell-federal-reserve-chairman-60-minutes/#app Scott Pelley: Where does it come from? Do you […]
WASHINGTON (The Borowitz Report)—The spending cuts mandated by the sequester may hamper the United States’s ability to invade countries for absolutely no reason, a Pentagon spokesman warned today. The Pentagon made this gloomy assessment amid widespread fears that the nation’s ability to wage totally optional wars based on bogus pretexts may be in peril. “Historically, […]
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. ~Ludwig von Mises
