The Fed will monetize our debt, ie drop dollars from helicopters to forestall a drop in our standard of living.
Get ready for hyperinflation, the 70s were a cakewalk compared to this mess and gold is headed to $3000+.
That's when we get Volcker back in, he's willing to apply the tourniquet and sacrifice the arms and legs to save the body (as he did in the 80s).
BUMP
The 1970's inflation was triggered by massive government overspending and corruption that caused the collapse of the Bretton Woods foreign exchange system. There is no danger of that magnitude today.
That's when we get Volcker back in, he's willing to apply the tourniquet and sacrifice the arms and legs to save the body (as he did in the 80s).
Volcker isn't that smart. He raised interest rates the way he did with Reagan's approval in support of his strong currency policy. Don't let the Left fool you into thinking that Volcker was or is some kind of Genius. It was all Reagan.