Default or Hyperinflation: The US's Only Two Options

by Richard Daughty
Oct. 26, 2010

I thought I had seen and heard it all after the ludicrous Ben Bernanke, asinine chairman of the Federal Reserve, announced that the official (and thus a lie!) 2% inflation in prices was too, too low, and he wanted higher inflation because, somehow, in some weird little fantasy world that only he and other neo-Keynesian econometric cyber-nerds can see, higher inflation is “consistent with the mandate of the Fed” to achieve stable prices (zero inflation)! Hahahaha!

This is so bizarre that I had a hard time dealing with it, as I have enough problems of my own in distinguishing reality from my own weird little mental world without this dimwit forcing his schizophrenia on me.

So I cleverly doubled up on some of my medications, which didn’t help much, although I finally did relax enough to unclench one fist.

Of course, the other mandate of the Fed came in the ’70s when Hubert Humphrey and other leftist weirdo morons changed the Fed’s charter to include a mission to, somehow, with magic perhaps but certainly with creating more and more money and driving interest rates down and down, always maximize employment. Maximize employment! How convenient an excuse for the Fed to create more money!

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