Bill has forwarded me a link to an interview with Peter Schiff, an economist who foresaw the economic mess we're in today long before it arrived. He argues now that the only thing worse than doing nothing to solve our crisis would be to do what the Democrats are doing:
[N]o government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster"
He believes that we should bite the bullet and ride out the recession. Our economy will be much healthier in the long run if we do. Obama's Economic Recovery Act, on the other hand, is, he believes, almost certain to throw us into a hyperinflation depression.
This means that our currency will be so devalued that even basic staples will cost too much to buy. Imagine a loaf of bread, for instance, priced at $12 and a gallon of gas at about the same price. Most people won't be able to buy anything and consequently there will be massive job losses and enormous social disruption and dislocation as even essential services are curtailed.
Watch the video at the link and pray that Schiff is wrong.
RLC
