Monday, September 26, 2011

A Sober Reminder of a Sobering Past

SEE HERE If the Fed keeps printing money we may discover what hyperinflation is like.  Those who fail to learn the lessons of history are doomed to relive them.  Now frankly we're not on that burdensome a course but it is nevertheless the same vector and will indeed produce significant inflation.  The best thing to own in inflationary time is a debt since you can pay it back in currency that is worth less and presumably easier to get.  I remember the Carter inflation because it helped me pay for my house. 

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