America has been busy printing money and we’ve been selling treasuries, thankfully we’re borrowing at a low rate of interest, but we’re also going into debt and printing money and forcing it into the economy at a rate never seen before. . The $787 Billion Stimulus and some $2 Billion in bailouts; all this flow of money will cause an inflation challenge in the future. So, let me recommend you a very good book:
The Great Inflation and Its Aftermath: How Reagan and Volcker Tamed Economic Policy and Why Obama Should Listen by Robert J. Samuelson; Random House, New York, NY (2008).
Also available to upload to your Kindle is “The Great Inflation and Its Consequences: The Past and Future of American Wealth” for the low cost of $14.00
This book reminds us of the problems with high inflation between 1960 and 1982. Most young people have no idea why. Things were pretty bad in the 1970s and stagflation was even worse, in fact things were so bad that President Jimmy Carter lost the election.
Samuelson, a columnist for Newsweek and The Washington Post, also reminds us that inflation is not so much an economic problem as it destroys trust by making it more social and political than one might think. An interesting quote was from Lenin, who stated that the best way to destroy a democracy is to debase its currency. In fact, he thinks about it for a minute.
I would recommend this book to anyone wondering if the current direction of our nation’s leadership and economy is a wise choice. Consider all this.