Wednesday, October 27, 2010

Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie

LINK to article

Yeah, let's buy up our country's debt.

How, you might ask?
Isn't the country nearly broke?

Well, instead of cutting Government spending, reducing the size  of said Gov't, instead of reducing taxes to stimulate spending & job creation, our resident genius at the Federal Reserve, Ben Bernanke, says we'll just reduce interest rates, print more money and buy our own debt with the worthless paper.

This has been tried before.

This is how inflation is created, which in the case of the US, will surely turn to hyperinflation as our money is nearly worthless now, and will become even more so when the printing presses go back into overtime paper production.

Google the Weimar Republic. And for God's sake, stay away from Progressive Liberal sites like Wikipedia when you research it.


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