Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Thursday, October 31, 2013

Inflation Is the Last Thing We Need

Because Fed-created money enters the economy at particular points (through banks and bond dealers), a select few people get it sooner than the rest of us. Those who are thus privileged are able to buy at the old, lower prices, while the rest of us don’t see the money until prices have risen. That is an implicit tax and transfer.
And the problem isn’t simply a rising price level. Relative prices are what provide entrepreneurs and investors the information required for rational economic calculation and service to consumers. Inflation changes relative prices. Thus, it distorts the price system and, in turn, the multidimensional economic structure. That means any stimulus is unsustainable because the inflationary policy will eventually end and unemployment must follow as the inflation-induced errors are revealed.
Inflation serves the governing class. Honest, hardworking people should abhor it.
Read it all.

Friday, March 25, 2011

TGIF: A Victim of the State

Bernard von NotHaus is a victim of State oppression. One hopes his conviction is overturned and he remains a free man. I for one feel safer with him doing what he does than with Ben Bernanke doing what he does.
Read the full TGIF here.