September 28, 2010 37 Comments
BECKLEY— Deflation or inflation? First, let’s discuss deflation. Simply put deflation is a lie. Ben Bernanke and most modern economists realize it is a lie. Why is deflation a lie? Simply because in modern economic systems currency has no real value. So, if deflation comes along, which is to0 many goods with too few dollars, the government just prints more dollars and they keep on printing those dollars until deflation goes bye-bye. In regards to deflation Ben Bernanke has said, “The U.S. government has a technology, called a printing press, that allows it to produce as many U.S. dollars as it wishes at no cost.” So, from our Republican appointed Federal Reserve Chairman, there is no strong dollar policy to be had. This means the issue of greater importance is inflation.