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America’s massive debt and unfunded liabilities make inflation the only viable option for today’s policymakers because when the value of future dollars is diminished, future obligations in those depreciated dollars are diminished.
Words: 2808
By (author) Joseph E. Stiglitz
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Filed under Inflation/Deflation · Tagged with Atlantic Monthly, Bank of Canada Governor John Carney, Consumer Price Index, CPI, GDP, hyperinflation, IMF, inflation, Jim Puplava, John Williams, Lawrence Kotlikoff, Medicare, Milton Friedman, Peak Oil, Simon Johnson, Social Security, US Federal Reserve Chairman Ben Bernanke, US money supply, US National Debt Clock, US Treasury, US Treasury Secretary Henry Paulson, Warren Buffett
