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Texas congressman Ron Paul on Friday predicted that inflation will hit 50 percent in the next couple of years, thanks to the massive debt the country has accumulated.
Paul, who spoke to admirers and Republican activists at a Manchester house party, said the inflation will act like default.
Social Security checks will still be cut and interest payments will still be made, but the inflated dollars will allow the government to repay borrowed dollars with devalued money, Paul said.
Originally posted by niceguybob
50%? He'll get quoted on that statement the rest of the campaign trail.
I like the guy.... but statements like that will get you creamed from the Left media machine.
Even if the dollar tanks...at some point..gas is only worth so much..
I don't see gas going to $7.50 a gallon... To try to move anything will shut down this Country.
Oh...trains will be more cost effective then trucks..Hmmmm..Warren Buffet just invested in trains.
HELP! I know nothing.
Originally posted by The Old American
I don't see 50% coming in the near future, but I think 20% could be a reality. The dollar is currently backed by fairy dust, and since there is currently a shortage of fairy dust, inflation will occur at a higher rate soon.