“On his first trip to the Middle East as Treasury secretary, Timothy F. Geithner’s message this week will be similar to the one he delivered to Chinese officials a month ago — your investments in the United States are safe. Mr. Geithner is expected to repeat assurances that the government’s soaring budget deficits will not trigger a devastating bout of inflation that sinks the value of the dollar and foreigners’ holdings.” (Washington Times, Monday)
And Madoff gets 150 years in prison.
FEE Timely Classic
“Some Evils of Inflation” by Hans F. Sennholz
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