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Monday, November 8, 2010

Bernanke Defends Strategy in Friedmanite Terms


“The central bank will indirectly be financing the government’s deficits on a scale not seen since World War II. It will buy the equivalent of most of the new Treasury debt issued through next June. The portfolio of federal bonds it amassed as a result of the 2008 crisis will swell further, just about doubling.” (New York Times)

This can’t end well.

FEE Timely Classic
“Built-In Pressures to Inflation” by Clarence B. Carson