There is a superb article in the Telegraph, this morning, by Jeff Randall. Alas, with his work for Sky television, Mr Randall can only deliver one article a month for us via the Telegraph, however what he lacks in current quantity he is making up for in distilled quality. The article even includes a Mises quote, which gave me quite a jolt this morning:
“Inflation,” wrote Milton Friedman, “is the one form of taxation that can be imposed without legislation.” Those being fleeced are ordinary families, pensioners on fixed incomes and people with savings. For them, the outlook is worse than the official data suggest. The regulators are praying that the rest of us won’t notice. This is a high-wire act. As the economist Ludwig Von Mises noted, when the masses finally wake up, “a breakdown occurs”.
Ladies and Gentlemen; I do believe the sterling work of Toby Baxendale, Liam Halligan, and Steve Baker et al is actually starting to get us all somewhere. If outside the hallowed pages of Mr Halligan’s fine work we are finally starting to see Ludwig von Mises quotes in the Telegraph, and other mainstream media outlets, including even the Keynesian-Monetarist Economist, then progress surely is being made.
After reading the quote above, this morning, I almost expected Mr Randall to start talking about a potential crack-up boom.