Paul Kasriel: “Government spending is on the rise for as far as the eye can see. The U.S. indebtedness to the rest of the world is high and will be rising as far as the eye can see. U.S. policymakers will attempt to lessen the impact of this indebtedness on the standard of living of Americans by running Fed Governor Bernanke’s greenback printing press overtime. At first, this will induce foreign central banks to speed up their printing presses as no country right now wants a strong currency. This will lead to global reflation. Later, however, foreign central banks will get that anti-inflation religion again. This will lead to a run on the dollar and a sharp acceleration in U.S. inflation.”
Source link: http://blog.mises.org/2007/kasriel-greenspans-luck-has-run-out/
Kasriel: Greenspan’s luck has run out
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Check your Sunday newspaper ads for a wheelbarrow sale at the local hardware store. It should come in handy in a few years.
And if you’re hiding money in a mattress, buy gold coins now, and put them in the mattress! We’re headed back to 1980.
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