As it happened, we were there when Paul Volcker's shining moment was squandered in the early 1980s. As we discussed in Part 1, his stunning purge of runaway inflation----measured by a drop in the CPI from nearly 10% in 1980 to under 3.5% by mid-1983----was due to what amounted to anti-monetarism.
Thanks, Not! The Baleful Legacy of Janet, Ben, Alan And Uncle Milton, Part 2
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.