Free Republic

Friedrich Hayek's A Tiger by the Tail: The Keynesian Legacy of Inflation was published in 1978. It seems an appropriate description of what Quantitative Easing (QE) has produced. We are far along on a journey that cannot be stopped without enormous damage. Quantitative Easing is a euphemism for money creation. Money creation is, by definition, inflation. Eventually inflation produces higher commodity and other prices. Inflation can be created by other Fed policies besides QE. However, for purposes of this article, QE will be dealt with as if it is the primary cause (which it has been recently). According to Chairman...

Ron Paul, the Texas congressman who is the darling of the Libertarian Right, has more earmarks in the pork-laden $410-billion spending bill than any other Republican. That's not according to the MSM, or the liberal blogosphere. That's what Fox News is reporting. In an interview Tuesday night with Fox News' Neil Cavuto, Paul not only defended his own earmarks, he argued that every penny in the federal budget should be earmarked, to improve transparency. Paul, a fiscal watchdog who said he voted against the bill because he believes federal spending is out of control, acknowledged that $73 million in the...