Inflation- Alive and Well

[Shooterman]

Inflation-Alive and Well

snip

Austrian- school economists demonstrate that true inflation is monetary inflation. True inflation therefore can be measured by an increase in the money supply. Mr. Greenspan and Fed policy makers have more than doubled the M3 money supply in less than ten years. While Treasury printing presses can print unlimited dollars, there are natural limits to economic growth. This flood of newly minted US currency can only increase consumer prices in the long term, as more and more dollars chase available goods and services.

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The Federal Reserve always promises that it's working to bring down inflation, but as Murray N. Rothbard shows in The Case Against the Fed, it never does. Since the Fed came into being, the dollars value has plummeted to less than a penny, and even at a 3% inflation rate, prices will tend to double every 25 years. The Fed wants to cover its crimes by appearing more successful at battling inflation. What the Fed doesn't want to talk about is the real cause of inflation: not greedy consumers, avaricious workers, or price-gouging corporations, but the central bank itself, and its power and practice of creating money out of thin air.

[EdNigma]

Whitey keeping me down.
-thrusting fist into air-

Viva la Black Panthers!!!!!!
/sarcasm off

Money is the root of all evil. We should go back to the barter system.

[Shooterman]

Originally Posted by EdNigma

Whitey keeping me down.
-thrusting fist into air-

Viva la Black Panthers!!!!!!
/sarcasm off

Money is the root of all evil. We should go back to the barter system.

Sorry, Ed, I have to disagree. The LOVE of money is the root of all evil.