All I know, is the enormous, longstanding US debt has got to come home to roost some day, and that day is soon approaching, with the Communist, Imbecile In Chief in charge.
Like this article, my moderate understanding of economics points to raging inflation.
However, some here on FR argue that we are instead headed for a great Deflation.
Don’t worry about the deflation/inflation argument. There isn’t deflation. They mostly point to real estate, which is still coming out of it’s bubble, and needs to fall another 30% at least, thank goodness. The dollar is being devalued, and there’s more of it, by all accounts, it’s inflation. The fact is that the U.S. has needed to be awoken for some time. Nearly one in 5 people are on food stamps. 1 in 10 are on Unemployment (Although the Unemployment rate if measured as it was during the great depression, would be about the same).
Unless the U.S. becomes productive, and throws off the regulations foisted upon us, through...reform, then we cannot compete. But the U.S. overall, has enjoyed a standard of living far exceeding it’s means on the backs of foreign labor. That will quickly and abruptly come to an end, with a sudden halt, I expect in the next year or so. And it’s going to be extremely difficult, and extremely good for the American people. You can’t live off the backs of others, neither domestically nor internationally. It’s time we see to our own problems, and not the world’s.