Beware the Fed’s Hubris on Inflation

by Ted Bauman
The Sovereign Investor

My first car was a 1971 four-door Dodge Dart. By the time I “inherited” it from my college-bound teenage sister in 1981, the poor car was already on its last legs.

The car was underpowered, with a 6-cylinder 180-horsepower engine that leaked oil constantly (I kept a fresh quart for refills in the trunk). It had no air-conditioning and no radio. But what I remember most about this car is that it was manufactured with only one side mirror, located on the driver’s side of the vehicle.

If I needed to ease into a right-hand lane or make a right turn in that direction … well, I had to be real careful.

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