Bailout Bill Means ‘Massive State-Sponsored Inflation’
Oct 3rd, 2008 | By Dan Denning | Category: Politics & EconomicsDan Denning says the bailout bill that just passed Congress is a recipe for “massive inflation.” In 1931, during the Great Depression, it was a different story. Back then, treasury secretary Andrew Mellon told Herbert Hoover: “Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. Purge the rottenness out of the system.”