Wednesday, August 5, 2015
MUST READ: "I Sure Am Glad There's No Inflation"
I sure am glad there's no inflation, because these "stable prices" the Federal Reserve keeps jaw-jacking about are putting us in a world of hurt.
We are constantly bombarded with two messages about inflation:
1. Inflation is near-zero
2. This worries the Federal Reserve terribly, because stable prices are deflationary and deflation is (for reasons that are never explained) like the financial Black Plague that will wipe out humanity if it isn't vanquished by a healthy dose of inflation (i.e. getting less for your money).