BY FRANK HILL
Reprinted from TelemachusLeaps.com

Inflation. Pure and simple.

Inflating the national currency is the tried-and-true way that governments have used for centuries and millennium to get their way out of budget problems caused by excessive debt.

But it is a dangerous bet and one that would not be necessary had we been responsible adults about our budgets and not run much debt, or any at all, over the past 40 years.

No budget deficits, no national debt. No need to borrow…from anyone. Case closed.

Inflation hit the stratospheric level of 12% per year in 1980-81. Interest rates spiked up to 21%. President Jimmy Carter’s anti-inflation policies were an abysmal, absolute, abject and total failure. Continue reading →