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Volcker: A "Little Inflation" Is A Terrible Idea
Henry Blodgett picks up Paul Volkers comments on inflation ".....The government would quietly but desperately love to inflate our way out of this mess--destroying the dollar so the real burden of our mountain of debt shrivels to a molehill. This remedy, of course, would punish everyone who has saved up a nest egg or lives on a fixed-income, but they're likely to be considered an expendable minority...."
There is also a link on this page to the Aron Task interview with Peter Schiff, "The stimulous bill will lead to unmitigated disaster."
http://www.businessinsider.com/2009/2/peter-schiff-stimulus-bill-will-lead-to-unmitigated-disaster
Peter compares Bush to Hoover and Obama to Roosevelt, predicting an unmitigated disaster; a depression with hyperinflation. He argues that the great depression was tempered by the fact that government spending and intervention was limited by the godl standard. Today, the Federal Reserve has no such limitation!
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