Rep. Dan Burton warns of hyperinflation due to stimulus bill

Not being an economist I can't evaluate the attached video for accuracy, but Rep. Dan Burton presents a troubling scenario under which all the money being pumped into the economy will lead to too much money chasing too few goods, i.e, hyperinflation.

He also discusses how the Chinese are getting worried about putting all their money into dollars due to our profligate spending, but they're forced to do so because there's no alternative.

12/22/11 UPDATE: The earlier video (Youtube ID rK7GtQjaAnQ) was deleted by the user but I replaced it with one with the same speech.


There is an alternative, they can put their dollars into all kinds of real assets rather than bullshit securities, assets like all our farmland, all our apartment buildings, all our water rights, all of our mineral & timber reserves, or even buy our stuff, stuff like SUVs being last on the list. They only have to spend about 50 billion a month, that's only 100,000 $500,000 homes-every month.