The Fallacy of Money Mania

Llewellyn H. Rockwell, Jr. / LewRockwell.com:
It's been a grueling Fall 2007, with the continued shocks from the housing mess, the market sell-off, oil still sky high, the dollar hitting new lows, and the rising gold price giving that ever-ominous sign of trouble ahead. Business conditions have deteriorated dramatically. And the gold price reflects a general trend: the consumer and producer price indexes are continuing an uptrend that compares to the steep levels of the mid and late 1970s. And if you really want to wince, take a look at federal spending and debt. It's unreal: $8.2 trillion in debt, with nearly $5 trillion of it held by the public as an investment?

Posted by Editor at November 30, 2007 03:56 AM