Economic Suicide the Keynesian Way
"By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens...and while the process impoverishes many, it actually enriches some.... The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose." --John Maynard Keynes (1883-1946) From "Economic Consequences of the Peace" 1920 "I have always harbored an exaggerated view of my self-importance. To put it bluntly, I fancied myself as some kind of god or an economic reformer like Keynes...." -- George Soros from "The Alchemy of Finance" 1987- Wednesday, November 17, 2010