Wednesday, April 20, 2011

See It

"No dream is ever just a dream."
--Dr Bill Harford (Eyes Wide Shut)

Last fall, a video that explained QE2 went viral. A brilliant piece.

Now, the creator has developed a video that explains inflation. Another homerun.

Those scratching their heads over the widening chasm between rich and poor should make sure they understand what is being said here.
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1 comment:

dgeorge12358 said...

Inflation is the increase in the volume of money and bank credit in relation to the volume of goods. It is harmful because it depreciates the value of the monetary unit, raises everybody's cost of living, imposes a tax on the poorest at as high a rate as the tax on the richest, wipes out the value of past savings, discourages future savings, redistributes wealth and income wantonly, encourages and rewards speculation and gambling at the expense of thrift and work, undermines confidence in the justice of a free enterprise system, and corrupts public and private morals.

The cure for inflation, like most cures, consists chiefly in removal of the cause. The cause of inflation is the increase of money and credit. The cure is to stop increasing money and credit. The cure for inflation, in brief, is to stop inflating. It is as simple as that.
~Henry Hazlitt, What You Should Know About Inflation, 1964

April 20, 2011 at 1:24 PM

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