Tuesday, August 19, 2008

Of course

There is a great column in today's Wall Street Journal on how the Federal Reserve's short-sighted fiscal policies have led to the worst inflationary pressure this country has seen in over 25 years: http://online.wsj.com/article/SB121910289433951323.html?mod=djemEditorialPage. Gee, ya think? The Fed's policies are nothing short of stupid, and they have led not only to inflation but to a collapse of the dollar. Yeah, I know that the dollar has gone up of late and oil prices have come down from their absurd highs in July, but that's a function of the market correcting itself, nothing more. You know what happens after the correction is complete? Prices go back up again, of course, usually to levels even higher than they were before the correciton began.

History is full of examples of what happens when we do not manage our money wisely. Why do we seem completely incapable of learning from those examples?


aoc gold said...
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serket said...

So far there doesn't seem to be much of an inflation problem, hopefully it stays that way.