George Will comments. Here are a few choice quotes…
America, says Lindsey, will not become Weimar Germany, where hyperinflation caused people to rush to stores with satchels of rapidly depreciating currency. But, he adds, no country has successfully behaved the way the United States is behaving.
Perhaps Larry Lindsay should have a chat with Marc Faber.
“Long term, the target for the US Dollar is a value of exactly zero”
Getting back to Will’s piece
It is, however, hubris — something abundant in Washington — to think inflation can be precisely controlled, like an oven’s temperature. It is hubris cubed to think inflation can be unleashed just short of provoking a flight from the dollar.
No kidding. It doesn’t take a lot of common sense to see a big problem coming down the road. If you believe the government will take care of you, you’re in for one hell of a ride. You’re not as helpless as you think you are, get your head out of the ground, get a plan and start taking action.
