Counterfeiting Versus Monetary Policy

By Walter E. Williams

Congress is on a spending binge. With all the calls for bailouts, economic stimulus and other assorted handouts, there is a real risk of inflation in our future. If we do have a rapid inflation, it’s likely that Congress, as they did in the financial meltdown, will blame it on everybody except themselves. Before Congress begins to shirk their responsibility, let’s understand what an inflation is and is not…