Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Sunday, October 17, 2010

Inflation, Trickle-up Economics

Here's a link to an excellent article on how inflation transfers wealth up the food chain. Cobb's view of the banks is too charitable in my view--their responding to public pressure rather than deflecting it--but he describes the process of expropriation well.