Yesterday’s challenge – explain how inflation will get off the launching pad in a deflating economy – went unanswered, although the topic itself provoked quite a response in the Rick’s Picks forum. The question was not rhetorical, since in order to produce inflation there has to be a mechanism for all of that printing press money inflationists keep blathering about to physically make its way into the consumer economy. Anyone who thinks massive fiscal spending alone can create inflation should read Hayek’s The Road to Serfdom, since the equally massive borrowing needed to finance a public works economy » Read the full article