Mr. Fisher asked those in attendance to use caution when electing any politician by determining what their stance and plans were to address these liabilities. He stated that he was not a politician and that his concern was, “the mortgaging of our children and grandchildren’s future.”
In an earlier speech, he said, “One has to bear in mind that the seeds of inflation, once planted, can lie fallow for some time, then suddenly burst through the economic topsoil like kudzu, requiring a near toxic dose of countermeasures to overcome.”
He further described inflation as a, “dangerous elixir that ultimately proves debilitating” and “inculcates bad financial behavioral patterns in the young by encouraging spending rather than investment and saving.”
The Dallas Fed president also warned against taking the cheap and easy way of inflating our way out of this situation. He stated in an earlier speech that, “Inflation is bad for Main Street and Wall Street and even for Sesame Street.”
The most interesting part of Mr. Fisher’s speech is that I would wager that few of you have seen, read, or even heard mention of the content.
David Walker, the GAO Chief (who recently resigned), has made these same arguments for years. Ron Paul, has spent 20 years trying to get the attention of Congress. He continues to warn us and campaign daily on these issues.
So what do all of these men have in common? They are all telling the truth and after all, America wants nothing to do with men of such despicable character. It the truth is painful; by all means lie. The remaining presidential contenders understand this rule, oh so well.
Wake up Middle America, the liars are leading.
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