I similarly noted in a little piece posted late yesterday
on the total amount of spending in these first couple packages from the
administration that one reader asked how I got into the position I have today
without knowing anything about inflation.
One possible answer is
"grade inflation." But the real truth is not only do I know
about inflation, I thought that all of you in the sophisticated FP readership
universe did, too.
My little exercise in arithmetic was nothing but a
factoid, pure and simple, designed to help put where we have ended up in
perspective. Of course, as it turned out, I had the number for the
financial package a little low, so it would actually took from 1789 to
1972 to spend the 3.3 trillion that might well be covered by the stimulus
and the financial rescue.
The point is, inflation aside, it's a lot of
money. Ok? Jeesh. Some of the comments I get are such arrant
nonsense.
Arrant. Arrant. Arrant. All right, I'm over it.
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