Episode 193: Our Ever-Expanding National Debt
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The Importance of Predicting Inflation
I had often heard that the people during this period would roll their money into CDs and end up losers, because the CDs weren't tracking inflation. I do know I have a story from one of my professors who plowed a bunch of money into a CD right before the interest rates fell. He's making 17% on a CD. In a condition in which you do quite well, if you could make 8 or 9% in the market every year, pulling 17 on a CD, that's you'd have to be out of your mind to cash out of that.
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