There was a time when "price stability" – that is, money that buys the same amount of stuff every year – was considered a good thing.
In the Hoisington First Quarter Review, Lacy Hunt blasts MMT as "self-perpetuating" inflation.
Remember what you're told by The Fed - 2% inflation per annum is 'stable prices'...
"Those who cannot remember the past are condemned to repeat it," remarked George Santayana over 100 years ago. These words, as strung together in this sequence, certainly sound good. But how to render them to actionable advice is less certain.
We've been pretty lucky over the last ten years in terms of inflation, which has remained at about 2%. However, if the Wall Street Journal is correct, our luck is about to run out.
It's long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would eventually be forced to choose between the deflationary collapse of a mountain of bad debt and the inf
Peter Schiff, who accurately predicted the 2008 financial crisis has said in a recent podcast that the Federal Reserve is going to let the "inflation genie out of the bottle." And Schiff says this warning comes directly from the Fed's own chai