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Location: Pantego, Texas, United States

Tuesday, June 09, 2009

Back during the Clinton Administration the Democrat deep thinkers lamented loss of control of Congress because it thwarted their plan to get the inflation rate back to where it belongs in their view, at 6% per year. I think they can rest easy now because the Obama spending plan will devalue the dollar so that we will be lucky if the inflation rate is only 6% per year in about two years. I think the likely outcome by the end of Obama's current term will be either stagflation at best, or hyperinflation at the worst.

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