Henry Hazlitt pointed out in his excellent treatise, Man VS. The Welfare State, that;
"The only way government bureaucrats know of keeping prosperity going is to inflate some more—to increase the deficit or to pump more money into the system. They proudly claim credit for a good result. But when the inflation begins to get out of hand, when the deficit in the balance of payments mounts, when the integrity of the dollar is threatened, they disclaim all responsibility. They explain that it is politically impossible to cut back government spending and would precipitate a crisis to stop expanding the supply of paper money. The only remedy they suggest is to raise taxes still further to pay for their own past extravagances. They denounce the banks for raising interest rates. They denounce business for raising prices and for investing abroad. In brief, they denounce private enterprise for the consequences of their own reckless policies and demand still more governmental controls." (Emphasis added)
This was written in 1969 yet seems so pertinent to The Bahamas today.
