Monday, April 26, 2010
Allan Meltzer to George Schultz...
I'm currently reading a book entitled "The Road Ahead for the Fed". George Schultz writes an introductory piece. He says that Allan Meltzer communicated to him in a phone conversation that in looking out into the future and past our current difficulties "It's a race between the inflation rate, the tax rate and (price) controls, and all three are going to win."
OHHHHHH Nooooooo! Say it ain't so Professor!!!!!