By Josh Haddon
(WINDSOR, ON) – There is a comic strip from the 1950’s that depicts Disney character Scrooge McDuck driving a flatbed truck full of money. Something occurs that makes the money blow all over town, hundreds of millions of dollars.
The citizens are running all over the town of Duckburg snatching up the bills and becoming millionaires overnight. Half way through the comic strip, the entire town now has more money than they know what to do with. Scrooge’s nephews were commissioned by Scrooge to run around and try to reclaim the money, they return with nothing.
This is where the comic strip gets exciting, and why my last article on quantitative easing is so important.
This silly, 60 year-old piece of Disney history makes it perfectly clear what is happening in our economy.
Huey, Dewey and Louie now expect to be punished by Scrooge for returning without his money. Their old Uncle Scrooge looks at them and tells them not to worry. Perplexed, the boys ask their Uncle why he isn’t concerned that everyone has all his money.
Scrooge simply says, “I own the all of the businesses in Duckburg. Tomorrow morning a loaf of bread at the bakery will cost much more than it did today. I will raise the price of everything until all my money is returned.”
Was it this Disney story’s simplicity, or hyperboles, that make the dangers of ignoring quantitative easing and inflation come to life?
Let us know in the comments section below.