They Chose Dishonour and Now We Will Have Stagflation
December 27, 2009
When Neville Chamberlain returned from Munich in September 1938 after appeasing Hitler by ceding the Sudetenland, Winston Churchill famously commented, “Britain and France had to choose between war and dishonour. They chose dishonour. They will have war.” In the last few weeks, the Federal Reserve came under immense pressure from the markets and bankers to cut interest rates in an effort to stem the bleeding from the mortgage market crisis Read more