The Fed Reserve is now going to print $1,200,000,000,000 to pay some of the US debt (http://www.cbsnews.com/blogs/2009/03/19/business/econwatch/entry4877724.shtml). This just weeks after the "Stimuless Bill" was passed which will add $800,000,000,000 to our national liability.
Isn't this what happened with the Weimar Republic (http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic) which lead to hyper-inflation which helped pave the way for Adolf Hitler to take power?
Radicalism breeds radicalism. Tough times ahead?
"The inflationism of the currency systems of Europe has proceeded to extraordinary lengths. The various belligerent Governments, unable, or too timid or too short-sighted to secure from loans or taxes the resources they required, have printed notes for the balance." - John Maynard Keynes, economist, commenting on Inflation in the Weimar Republic
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment