The New York Times reported Sunday that the key to getting the American economy moving again is inflation.
Benjamin Applebaum, writing for the Times, said:
Inflation is widely reviled as a kind of tax on modern life, but as Federal Reserve policy makers prepare to meet this week, there is growing concern inside and outside the Fed that inflation is not rising fast enough. Some economists say more inflation is just what the American economy needs to escape from a half-decade of sluggish growth and high unemployment.
Want more insanity? Try this: “Rising prices help companies increase profits; rising wages help borrowers repay debts. Inflation also encourages people and businesses to borrow money and spend it more quickly.”
Inflation is the panacea for a failing economy. Just ask the Fed, which has been ballooning the money supply. Or ask the New York Times.