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on November 18, 2008 04:49 PM
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Published in : The News, Echo |
I am also not going to engage in The Way To Trade a discussion of present monetary policy tonight, except to say that if inflationary developments and, more important, inflation expectations, continue to worsen, I would expect a change of course in monetary policy to occur sooner rather than later, even in the face of an anemic economic scenario. Inflation is the most insidious enemy of capitalism. No central banker can countenance it, not least the men and women of the Federal Reserve.
Tonight, I want to talk about a different matter. In keeping with Bill Martins advice, I have been scanning the horizon for danger signals even as we continue working to recover from the recent turmoil. In the distance, I see a frightful storm brewing in the form of untethered government debt. I choose the wordsfrightful stormdeliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal situation of the federal government will be 5 EMAs Forex Trading System unimaginably more devastating to our economic prosperity than the subprime debacle and the recent debauching of credit markets that we are now working so hard to correct.
Rich Tricks
Last update : November 18, 2008 04:49 PM
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