The bigger threat to the U.S. economy right now is a long-term deflationary trend.
“I think a rapid decline in demand for all kinds of products and services is a very realistic possibility.”
Sure, once the inflation burns through the world’s economy making nearly every currency worthless.
I’m with you, although I don’t think deflation will get every sector. Food and energy will continue to inflate and non-essential will free fall.
Housing materials for building will likely be in the top in deflation I bet. Perfect time if you have the property and money to build is likely coming up.