Glenn Grothman: “I know normally Congressmen take this opportunity to talk about some hot-button issue; therefore I feel a little regret…”

“I know normally Congressmen take this opportunity to talk about some hot-button issue; therefore I feel a little regret that I am going to have to delve into what the great English historian Thomas Carlyle called the dismal science. I am going to have to address economics. I am going to talk about two issues. I am going to talk about the monetary supply, and I am going to talk about inflation. It is a little bit boring, but they are both very important. First, the monetary supply. If you wonder where I get these numbers, Mr. Speaker, you can google John Williams' ``Shadow Government Statistics.'' I am going to talk about M1 and M2. M1 is a narrow definition of the monetary supply. We are now up rocketing at over 65 percent increase. You can go back 20 years and the highest prior increase is under 20 percent. So when you have this much of an outlier, look out. Some people would say M2, which is a more narrow definition, including things like certificates of deposit, is better; but even that amount is shooting up 25 percent a year. The previous high in the last 20 years was 18 percent in 2008. And you remember what happened after 2008. As the great James Garfield, Republican President--oh, how we wish he had a full 4 years--said: ``He who controls the money supply of a nation controls the nation.'' Please, I beg the chairman of the Budget Committee, before proceeding forth here, hold a hearing on the money supply.…”