Even NPR Gets It
This morning NPR reported that the FED cut interest rates again. The commentator also noted that the continual rate cuts are undermining American currency and will lead to excessive inflation.
MSNBC also takes note of the threat from inflation, due to the FED’s “easy money policy.”
Why are the media just now starting to consider the consequences of such reckless monetary policy? Look to the market for more accurate and real-time information. The dollar fell to a record low against the Euro with only speculation of an interest rate cut.
As the dollar continues to drop, we can expect oil prices to rise.
People are going to be wishing they had stood behind Ron Paul — the only presidential candidate with an understanding of economics and monetary policy — when they realize he was right again. Many laugh at him, and call him kooky, but they can’t seem to put their finger on exactly what is so kooky. After all, his “kooky” economic predictions all seem to come to fruition to some extent.