Milton Friedman says that it takes about eighteen months for monetary expansion to work its way through the economy. With QE3, Cork screws and Obama Care, we are in for quite an inflationary ride. I bought a burger, fries and a drink last night for $8.03 that costs $5.25 a year ago. Earlier in the day, what would have been about $8.00 in snacks not too long ago was $15.00.
We are living through and inflationary recession, but on the other end Friedman says things will level out in about eighteen months.
Now, a vote for people like me would abolish central banking and all its shenanigans. If there is no state, there is no central bank to steal the value of the intrinsic value of your labor through monetary expansion and resulting price inflation, the kind of stuff that puts families on the streets. Is anybody else running for Texas Governor on keeping you off the streets? I didn't think so.
Tolstoyan-Gandhian Libertarian Candidate for Texas Governor
(Endorsed by Dr. Noam Chomsky, Intellectual of the Age)