Monday, August 31, 2009

Do You Realize What Inflation Does To You?

This is a paragraph from a recent article written By Bettina Bien Greaves:

"Mises served in the Austro-Hungarian cavalry on the eastern (Russian) front in World War I. When he returned to Vienna, he found that inflation had compounded the destitution of the people. Men and women who had worked and saved for decades discovered that the value of their pensions was evaporating; the savings of a lifetime could pay for only a few streetcar rides. Merchants could not replace inventories with the receipts from their sales. A shoe dealer, for instance, with an inventory of 10,000 pairs of shoes in 1914, saw his assets dwindle each year as the cost of shoes went up with the inflation; finally, his receipts from a year's sales could pay for only one pair of shoelaces."

You cannot afford to allow the Federal Reserve to destroy the dollar.

You cannot afford to allow Congress to ignore the Constitutional restraints.

It is time to act!

For more information go to my website.

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Go here to read about MACRO & MICRO Economics Renewed.

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