Wild Cobra
08-25-2009, 07:12 PM
Well, there are those who believe we will have inflation equal to the Carter Years:
Senator warns of hyperinflation rivaling the 1980s (http://briefingroom.thehill.com/2009/08/25/senator-warns-of-hyperinflation-rivaling-the-1980s/), part of text:
"We won't know for a year if he's done a good job so far, because he shoveled money out of an airplane to save banks and the financial system," Grassley said in a conference call with Iowa reporters. "But shoveling money out of an airplane to solve problems can be inflationary — in this case, hyperinflationary — if he doesn't start mopping up some of the money that's out there."
Grassley, the ranking member of the Senate Finance Committee, said that inflation as a result from government spending on bailouts could result in inflation rivaling rates in 1980, when it hit a peak of 13.5 percent.
Senator warns of hyperinflation rivaling the 1980s (http://briefingroom.thehill.com/2009/08/25/senator-warns-of-hyperinflation-rivaling-the-1980s/), part of text:
"We won't know for a year if he's done a good job so far, because he shoveled money out of an airplane to save banks and the financial system," Grassley said in a conference call with Iowa reporters. "But shoveling money out of an airplane to solve problems can be inflationary — in this case, hyperinflationary — if he doesn't start mopping up some of the money that's out there."
Grassley, the ranking member of the Senate Finance Committee, said that inflation as a result from government spending on bailouts could result in inflation rivaling rates in 1980, when it hit a peak of 13.5 percent.