Deficits and Inflation, from the Fed to the Cartoon Page

You know you’ve arrived when your name starts showing up in cartoons. Here’s the Wall Street Journal’s legendary “Pepper … and Salt” cartoon from last Thursday:

Of course, most inflation obsessives are deficit scolds, so it’s not clear that host is going to get much debate. 

One person who might be called both an inflation obsessive – that is, a person who objects to the robbery of savers through the erosion of the value of their money – and a deficit scold is David Stockman, former budget director for President Ronald Reagan. He has a new book out, The Great Deformation: The Corruption of Capitalism in Americawhich he summarized in the New York Times on Sunday. He’ll be speaking about his book at the Cato Institute on Wednesday. Don’t miss it.