Mar 23, 2011

Warren Buffett on inflation as the natural course of democracy

The dollar in 1930, when I was born, the dollar then now is worth 6 cents. Inflation is sort of the natural course, almost, of a democracy. It's easier for politicians to spend than to tax, that can lead to some inflation. It has in the US over the years. The thing you worry about is the thing that happened in the late '70s and early '80s.

It's easier to start than to stop.

~Warren Buffett, the Oracle of Omaha, CNBC interview, March 23, 2011

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