The United States has been busy creating money and selling Treasury Notes; fortunately, we are borrowing at a cheap interest rate, but we are also incurring unprecedented debt and forcing unprecedented amounts of printed money into the economy. The Stimulus of 787 Billion Dollars and around $2 Trillion for financial bailouts; all this money flow will pose a future inflation problem. So, allow me to suggest a very good book:
The Great Inflation and Its Consequences: How Reagan and Volcker Tame Economic Policy, and Why Obama Should Listen, by Robert J. Samuelson; Random House, New York, NY (2008).
The Great Inflation and Its Aftermath: The Past and Future of American Affluence is also available for $14.00 to be installed into your Kindle.
This book describes the challenges caused by excessive inflation from 1960 to 1982. Most younger individuals are unaware of this reason. The 1970s were a difficult decade, and stagflation made matters even worse; in fact, President Jimmy Carter lost the election.
In addition, Samuelson, a journalist for Newsweek and the Washington Post, reminds us that inflation is not merely an economic issue because it erodes confidence, making it more social and political than one might assume. Lenin’s statement that the easiest method to undermine a democracy is to devalue its currency is an interesting remark. Indeed, consider that for a moment.
I would recommend this book to anyone who is uncertain about the direction of our nation’s leadership and economy. Consider the above.