Friday, June 12, 2009

Don't say you weren't warned when inflation and interest rates skyrocket (not unlike the way O said energy prices would):
"But as bad as the fiscal picture is, panic-driven monetary policies portend to have even more dire consequences. We can expect rapidly rising prices and much, much higher interest rates over the next four or five years, and a concomitant deleterious impact on output and employment not unlike the late 1970s."

http://online.wsj.com/article/SB124458888993599879.html#mod=todays_us_opinion

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