Sunday, February 8, 2009

More prophetic counsel on debt.

"Recent history has demonstrated that in difficult days it is reserves with intrinsic value that are of most worth, rather than reserves of value which may be destroyed through inflation. It is well to remember that continued government deficits cause inflation; inflation is used as an excuse for ineffective price controls; price controls lead to shortages; artificial shortages inevitably are used as an excuse to implement rationing. When will we learn these basic economic principles?" -Ezra Taft Benson, "God, Family, Country." Pg. 271.

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