YouTube – Peter Schiff interview (Taki’s Magazine, March 9 2009).

I’m only posting this video for the first ten or fifteen seconds or so.  I’ve been hearing about how the DOW is back down ten years or so.  But what about inflation.  The interviewer says that we are back to the eighties.

Which explains one reason why stock market speculation (Oh, I mean “investment”) seems so necessary.  Keep you money in the bank and watch your purchasing power dwindle.  You are forced into the market to race with inflation.

So we are now all the way back to the Reagan era.  Back when Paul Volcker was courageous enough to put us through a recession to clear out the bad economy and put us in a better place.  I doubt will see that kind of courage this time around.