Thursday, November 04, 2010

Everyday Low Prices

What is wrong with "Everyday Low Prices?"  That has been the business model of one of the great American success stories -- Wal-Mart.  Nothing, unless you are the Fed.  The Fed panics at even the thought of low prices.  As a matter of fact, it has done everything ($2 trillion worth and counting) to make sure that you will never find low prices again.  Listen to the following Bloomberg's interview with James Grant, who is editor of the Grant's Interest Rate Observer:

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