If you’ve been keeping up with the economy in the last, well, decade, you’ll see that the United States and most European countries have turned to the printing press to cure all of their economic ills. The problem? The printing press doesn’t actually cure anything, and just makes prices higher, wiping out the poor and middle class.
Below, I’ve looked up four famous billionaires — conservative, liberal, libertarian, and moderate — to see what they seem to agree on. This should be proof enough that regardless of which party you follow — if any — inflation is hitting, and it’s going to get a lot worse.
Quotes About Inflation:
Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates.
-Bill Gross, April 2011
“But with the U.S. pouring gasoline over the fire, it’s going to be much more difficult for anybody to stop inflation. America is fanning it as best as it can, and it’s going to get worse.”
-Jim Rogers, April 2011
“If you ask me if the U.S. Dollar is going to hold its purchasing power fully at the level of 2011, 5 years, 10 years or 20 years from now, I would tell you it will not.”
-Warren Buffett, March 2011
“So now we are on verge of tipping over to inflation. But you still have monetary easing.”
-George Soros, January 2011