Battered by bad economic news, consumer confidence plunged while wholesale food, energy and medicine costs soared, pushing inflation up at the fastest pace in a quarter century. The Labor Department said Tuesday that wholesale inflation jumped by 1 percent in January, more than double the increase that analysts had been expecting. (New York Times, Tuesday)
The solution is easy: Cut spending, deregulate, and free all markets.
FEE Timely Classic
Inflationism by William H. Peterson