Thought for the day

"Legislators will correctly perceive that either raising taxes or cutting expenditures will threaten their re-election. To avoid this fate, they can opt for high rates of inflation, which never require a recorded vote and cannot be attributed to a specific action that any elected official takes." - Warren Buffett


PS:
No wonder an 8% inflation is taken for granted and a M3 money supply of close to 20% does not raise any eye brows.