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You are here: MacNN Forums > Community > MacNN Lounge > Political/War Lounge > Federal Reserve is printing money like crazy - huge inflation is coming

Federal Reserve is printing money like crazy - huge inflation is coming
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turtle777
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Dec 6, 2008, 03:54 PM
 
Well, take a look for yourself:



Source: http://research.stlouisfed.org/fred2/series/BASE

Also, read this:
There are now potentially 100% more US dollars for each gold ounce than there were in total in 2003, and here's the scariest part: there are now 50% more US dollars in the monetary base than there were seven weeks ago.
There is no doubt that were are headed for a serious inflation. All the bailout $$$ are basically just money that the Fed will print.

Look at what Gerald Celente, predicts:
The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions - all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012. [...]

He also said that the dollar would eventually be devalued by as much as 90 percent. [...]

"We're going to start seeing huge areas of vacant real estate and squatters living in them as well. It's going to be a picture the likes of which Americans are not going to be used to. It's going to come as a shock and with it, there's going to be a lot of crime."
Source: http://www.commodityonline.com/news/...13062-3-1.html

Wow, just wow. Even if only 10% of what he predicts comes true, we're in for quite a ride.

-t
     
thechidz
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Dec 6, 2008, 06:00 PM
 
worse than the great depression and similar to Hitler's Germany. We better get out of these wars.
     
Zeeb
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Dec 6, 2008, 07:12 PM
 
I agree there's gonna be nasty inflation coming our way soon which is not going to be pleasant, but we've survived inflation before. These types of articles are always on sites that are trying promote gold ownership. Every day there's a new end of the world prediction and the only way to survive is to buy gold and guns.
     
turtle777  (op)
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Dec 6, 2008, 07:51 PM
 
Originally Posted by Zeeb View Post
These types of articles are always on sites that are trying promote gold ownership.
Gold and commodities.

But yeah, of course, a site promoting government bonds would not post something like this. Duh.

-t
     
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Dec 6, 2008, 07:53 PM
 
Just a couple of weeks ago I heard a story on NPR about the impending risk of deflation.... and that the solution was printing more money.

I don't think anyone has freakin' clue what holds for the future. Just like the whole recession debate. You don't know you had a recession until it's over... so then why does it matter?
     
tie
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Dec 6, 2008, 08:39 PM
 
"You don't know you had a recession until it's over... so then why does it matter?"

But you often do know. In the current case, we certainly do.

turtle, monetary base is pretty subtle. I don't know enough about it, and don't see any definitions on the web page you linked to (I only briefly looked). The Fed may be printing money but banks are lending less money, so it could all be a wash.

I really disagree with Gerard Celente. Why would the dollar be devalued when the US economy is doing as well or better than the rest of the world? The dollar has recently soared because investors see it as a refuge currency. Food riots? Why would there be riots unless there is a shortage? And why would there be a shortage?
The 4 o'clock train will be a bus.
It will depart at 20 minutes to 5.
     
ShortcutToMoncton
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Dec 6, 2008, 10:13 PM
 
Originally Posted by tie View Post
Food riots? Why would there be riots unless there is a shortage? And why would there be a shortage?
The Chinese are stealing all our food
Mankind's only chance is to harness the power of stupid.
     
turtle777  (op)
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Dec 6, 2008, 11:27 PM
 
Originally Posted by tie View Post
I really disagree with Gerard Celente.
Hey, I don't like it either.

But the problem is, he's been right many times before. I do hope he's wrong, but somehow, I think he's at least pointing in the right direction.

-t
     
ShortcutToMoncton
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Dec 7, 2008, 08:23 AM
 
I see the examples of how he's been right... but I would like some context as to how much he's been wrong.

That's the kicker when you have people comparing him to Nostradamus.

greg
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turtle777  (op)
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Dec 7, 2008, 08:09 PM
 
Originally Posted by ShortcutToMoncton View Post
That's the kicker when you have people comparing him to Nostradamus.

greg
Ah well, that's *other* people. He himself would never make that comparison, since it is stupid.

-t
     
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Dec 7, 2008, 11:07 PM
 
Buy gold then.
     
turtle777  (op)
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Dec 7, 2008, 11:29 PM
 
Originally Posted by TETENAL View Post
Buy gold then.
I certainly did, and I'm still doing it, adding to my position every week.

-t
     
chris v
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Dec 7, 2008, 11:38 PM
 
I thought DE-flation was the new enemy. Nobody knows which way to run.

When a true genius appears in the world you may know him by this sign, that the dunces are all in confederacy against him. -- Jonathan Swift.
     
turtle777  (op)
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Dec 8, 2008, 01:07 PM
 
Originally Posted by chris v View Post
I thought DE-flation was the new enemy. Nobody knows which way to run.
Only temporarily.

The Fed is hell bent to not have a deflation. So they hand out bailout money left and right, using "printed" money, and hence, raising inflation.

-t
     
chris v
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Dec 9, 2008, 12:06 AM
 
Originally Posted by turtle777 View Post
Only temporarily.

The Fed is hell bent to not have a deflation. So they hand out bailout money left and right, using "printed" money, and hence, raising inflation.

-t
Well, all the electronic money magically disappeared, so maybe it'll just balance out.

When a true genius appears in the world you may know him by this sign, that the dunces are all in confederacy against him. -- Jonathan Swift.
     
thechidz
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Dec 9, 2008, 01:56 AM
 
where is the best place to buy gold?
Bow chicka bow-wow
     
turtle777  (op)
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Dec 9, 2008, 10:06 AM
 
Originally Posted by thechidz View Post
where is the best place to buy gold?
Cheapest / easiest: buy a Gold ETF (like GLD)
Drawback: it's only paper gold

Safest / more expensive: buy physical gold (bullions) from a reputable dealer either online or a local dealer.
Drawback: you need to find a safe place to store it.

-t
     
turtle777  (op)
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Jan 23, 2009, 09:47 PM
 
Well, the "stimulus" is coming, the Fed's gonna print even more money than previously thought.

Interesting take on Obama's call to "sacrifice":

Barack Obama has spoken often of sacrifice. And as recently as a week ago, he said that to stave off the deepening recession Americans should be prepared to face "trillion dollar deficits for years to come."

[...] What he might have said was that the nations funding the majority of America's public debt -- most notably the Chinese, Japanese and the Saudis -- need to be prepared to sacrifice. They have to fund America's annual trillion-dollar deficits for the foreseeable future. These creditor nations, who already own trillions of dollars of U.S. government debt, are the only entities capable of underwriting the spending that Mr. Obama envisions and that U.S. citizens demand.

These nations, in other words, must never use the money to buy other assets or fund domestic spending initiatives for their own people. When the old Treasury bills mature, they can do nothing with the money except buy new ones.
http://online.wsj.com/article/SB123266988914308217.html

Seems like we can only hope those nations are dumb charitable enough to keep funding our shopping sprees.

-t
     
jimd144
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Jan 23, 2009, 09:52 PM
 
Forget paper gold. Need gold coins from foreign countries, and need it at home.

If anyone read Ayn Rand's book "Atlas Shrugged" written in 1959, this is it!

Check out this site. It is not a site asking for money, just a place to learn what the government says and has said in their own words over the years:
http://www.chrismartenson.com/crashcourse
     
Dork.
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Jan 23, 2009, 09:52 PM
 
Originally Posted by turtle777 View Post
Seems like we can only hope those nations are dumb charitable enough to keep funding our shopping sprees.
They'd better. If the American economy really goes further South, who will buy the stuff they make?
     
hyteckit
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Jan 23, 2009, 09:56 PM
 
Stimulus package passes. Tons of money being printing. Inflation goes up.

True.
Bush Tax Cuts == Job Killer
June 2001: 132,047,000 employed
June 2003: 129,839,000 employed
2.21 million jobs were LOST after 2 years of Bush Tax Cuts.
     
Shaddim
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Jan 24, 2009, 12:18 AM
 
Originally Posted by TETENAL View Post
Buy gold then.
Screw that, for the last couple months I've been buying platinum. It's in the same price range and there's a lot less of it.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
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Andrew Stephens
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Jan 24, 2009, 05:48 AM
 
Originally Posted by Shaddim View Post
Screw that, for the last couple months I've been buying platinum. It's in the same price range and there's a lot less of it.
Stick with gold. People are stupid for gold (at least 5000 years of recorded human history back this up), people are not nearly so stupid for platinum.
     
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Jan 24, 2009, 08:40 AM
 
I bought cardboard when it was only 15 cents a ton. I know how to hedge a bet for my future.
"Faster, faster! 'Till the thrill of speed overcomes the fear of death." - HST
     
turtle777  (op)
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Jan 24, 2009, 01:46 PM
 
Originally Posted by Dork. View Post
They'd better. If the American economy really goes further South, who will buy the stuff they make?
You better don't tell the Chinese that they could buy their own goods themselves, and increase their own standard of living. Right now, they are living below their means, savings money like crazy (personal savings rate in China is between 25% and 40%, depending on who you ask). That saved money goes into US treasuries.

If they ever start to "consume" their own surplus, the US $ is toast.

-t
     
nonhuman
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Jan 24, 2009, 01:49 PM
 
Originally Posted by turtle777 View Post
You better don't tell the Chinese that they could buy their own goods themselves, and increase their own standard of living. Right now, they are living below their means, savings money like crazy (personal savings rate in China is between 25% and 40%, depending on who you ask). That saved money goes into US treasuries.

If they ever start to "consume" their own surplus, the US $ is toast.

-t
I'm guessing you've never actually been to China to observe all these people living below their means and saving like crazy, have you?
     
turtle777  (op)
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Jan 24, 2009, 01:51 PM
 
Originally Posted by jimd144 View Post
Forget paper gold. Need gold coins from foreign countries, and need it at home.
Nah, that's not safe.

Better option: Perth Mint Certificate Program

Your own gold in a government run vault. And since it's not a bank account, you don't even have to disclose it to the IRS.

-t
     
turtle777  (op)
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Jan 24, 2009, 01:52 PM
 
Originally Posted by nonhuman View Post
I'm guessing you've never actually been to China to observe all these people living below their means and saving like crazy, have you?
Huh. What's your point ?

Why would I have to personally observe it ?

-t
     
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Jan 24, 2009, 02:21 PM
 
Originally Posted by thechidz View Post
where is the best place to buy gold?
I buy mine mostly from government mints. I do buy from other sources, but that's where the majority of my stock has come from. Plus the coins are pretty.
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turtle777  (op)
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Jan 24, 2009, 02:25 PM
 
Originally Posted by ThinkInsane View Post
I buy mine mostly from government mints. I do buy from other sources, but that's where the majority of my stock has come from. Plus the coins are pretty.
As far as coins go, I actually prefer bulk silver coins (non-numismatic).

-t
     
turtle777  (op)
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Jan 24, 2009, 02:36 PM
 
Here's an updated chart:



Crazy.

-t
     
nonhuman
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Jan 24, 2009, 02:56 PM
 
Originally Posted by turtle777 View Post
Huh. What's your point ?

Why would I have to personally observe it ?

-t
Because the majority of the country is impoverished to a point that is essentially unimaginable to someone who's never been outside the developed world. The people who are 'living below their means' and saving so much are doing so because they spend most of their time living in one of the big cities working to support their family who still lives in a tiny farming village in the middle of nowhere.
     
turtle777  (op)
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Jan 24, 2009, 04:18 PM
 
Originally Posted by nonhuman View Post
Because the majority of the country is impoverished to a point that is essentially unimaginable to someone who's never been outside the developed world. The people who are 'living below their means' and saving so much are doing so because they spend most of their time living in one of the big cities working to support their family who still lives in a tiny farming village in the middle of nowhere.
Is that your way of saying you don't believe me ?

Well, hit up the following links. They must all be lying.

The saving rate in China is the highest of any major country. China's gross saving rate ..., which includes both public and private saving, is around 50 percent.
http://economistsview.typepad.com/ec...ences_in_.html

The contrast is even starker at the household level -- a personal saving rate in China of about 30% of household income, compared with a U.S. rate that dipped into negative territory last year (–0.4% of after-tax household income).
http://money.cnn.com/2006/03/03/news...aving_fortune/

Economists estimated China's savings rates (the percentage of savings in a person's disposable income) remained between 30 percent and 40 percent over the years.
http://www.chinadaily.com.cn/bizchin...nt_7375620.htm

-t
     
nonhuman
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Jan 24, 2009, 05:37 PM
 
Originally Posted by turtle777 View Post
Is that your way of saying you don't believe me ?
No, you're correct that savings are higher in China than in the US. The numbers don't lie. Where you're incorrect is your interpretation of why this is and what this means. The reason people save so much in China is that they have no choice. They are in the situation that Americans were several decades ago: credit is hard to come by. When you can't just go out and get a loan to buy a ridiculously expenssive car you think about money in a different way. In the US we've grown used to using credit as our safety net: we don't need to save money because, in a pinch, we can just use credit. We've replaced the idea of a nest egg, with the idea of accruing temporary debt that we can pay off over time. In theory it works the same way, but in practice if credit gets tight you're screwed.

The situation is reversed in China. Your average Chinese person can't just go out and get a car loan. They can't just apply for a mortgage. They can't just get a student loan and go to the fanciest, biggest name college around. For the most part they can't even afford to have clean water come out of their taps (no, I'm not exagerating here, the rich have to install filters on their plumbing in order to be able to drink from the tap, everyone else boils their water). In a situation like that it's essential to save. Not because they're choosing to 'live below their means', but because they, unlike us, don't have a completely distorted idea of what 'their means' actually are. Without the safety net of promiscuous bankers that we have, they're forced to live and spend responsibly because if they don't, they're ****ed.
     
turtle777  (op)
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Jan 24, 2009, 08:08 PM
 
What's the point of this "they have no choice" observation ?
They are doing the right thing.

The irony is, you don't seem to see how all the available credit really screwed up America.

And you also fail to see that all the Chinese saved money is tied up in US treasuries.
If the Chinese start spending their saved money en masse, the US $ will go belly up.

-t
     
Dork.
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Jan 24, 2009, 08:35 PM
 
No doubt about it, if folks stop buying treasuries and we're forced actually balance our budget, we're in deep doo-doo.

Of course, we could always just hit the reset button and default on our debt. The "nuclear option", if you will. Lets see how much trouble the Chinese can cause with their savings if we make it all go away!
     
nonhuman
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Jan 24, 2009, 09:30 PM
 
Originally Posted by turtle777 View Post
What's the point of this "they have no choice" observation ?
They are doing the right thing.

The irony is, you don't seem to see how all the available credit really screwed up America.

And you also fail to see that all the Chinese saved money is tied up in US treasuries.
If the Chinese start spending their saved money en masse, the US $ will go belly up.

-t
What are you talking about? In what way was my post not critical of our ridiculous credit driven system? I agree that the Chinese are doing the right thing in saving their money and that we should be doing the same thing. But in the case of the Chinese it's largely because they're forced to do so by endemic crippling poverty making it not so much enviable as sad. Just because poor people don't have the luxury of ignoring reality doesn't make them morally superior.

There's also a question of whether we can trust any data on this considering that it's all being reported by the Chinese government which, as we all know, has a great record of telling the truth and treating its people well (hint: we can't).
     
turtle777  (op)
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Jan 24, 2009, 10:07 PM
 
Originally Posted by nonhuman View Post
There's also a question of whether we can trust any data on this considering that it's all being reported by the Chinese government which, as we all know, has a great record of telling the truth and treating its people well (hint: we can't).
Maybe you should do some googling. The high savings rate in China is not disputed by anyone. You'll find all kinds of sources, most non-Chinese.

-t
     
nonhuman
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Jan 24, 2009, 10:13 PM
 
Originally Posted by turtle777 View Post
Maybe you should do some googling. The high savings rate in China is not disputed by anyone. You'll find all kinds of sources, most non-Chinese.

-t
And I'm not disputing it. But I still question any information that comes from the Chinese government.
     
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Jan 25, 2009, 12:31 PM
 
If Entitlements aren't restrained soon, we all better start finding ways to repurpose the dollars we have because they won't be of much use as currency.

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
turtle777  (op)
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Jan 25, 2009, 01:41 PM
 
Originally Posted by Big Mac View Post
If Entitlements aren't restrained soon, we all better start finding ways to repurpose the dollars we have because they won't be of much use as currency.
It's absolutely ludicrous how all that bailout money, supposedly given to "fix" the situation, makes things even worse.

How the f**k can you give Chrysler a loan at 5%, and they use the money to give consumers 0% financing on cars that otherwise nobody wanted ?

How the hell is this ever gonna fix things ?

-t
     
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Jan 25, 2009, 02:47 PM
 
Originally Posted by thechidz View Post
worse than the great depression and similar to Hitler's Germany. We better get out of these wars.
Uhm, Hitler's Germany was already catching up on the employment and economy as they had the strongest industry in Europe. You meant the Germany of the 1920s.

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Big Mac
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Jan 25, 2009, 02:54 PM
 
I was going to say something about thechidz's knowledge of economics and politics, but then I remembered that such a post would be frowned upon and be considered a personal attack.

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
turtle777  (op)
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Jan 25, 2009, 03:06 PM
 
Originally Posted by Big Mac View Post
I was going to say something about thechidz's knowledge of economics and politics, but then I remembered that such a post would be frowned upon and be considered a personal attack.
Not true. You can point out a FAIL. Just not three times, then you'll get a warning.

-t
     
turtle777  (op)
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Mar 18, 2009, 10:45 PM
 
WTF ? The Fed just announced that they will print $ 1 Trillion in new dollars and throw it on the market.

$ 300B to buy back treasuries, $ 700B to buy junk mortgage securities.

Within two hours, Gold jumped 6%

Does anyone still doubt we're gonna get massive inflation ?

-t
     
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Mar 21, 2009, 09:48 AM
 
i have 4 dollars left from my last visit in december ! what to do !
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Mar 21, 2009, 11:35 AM
 
Originally Posted by osiris View Post
I bought cardboard when it was only 15 cents a ton. I know how to hedge a bet for my future.
We all might be in the market for some of those boxes.
ebuddy
     
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Mar 21, 2009, 11:38 AM
 
Originally Posted by ShortcutToMoncton View Post
I see the examples of how he's been right... but I would like some context as to how much he's been wrong.
I'm inclined to agree with this for a couple of reasons. Whether someone has been right or wrong historically is almost of no use in a situation of so much unprecedented activity. Secondly, there's plenty of "wrong" to go around and I'm not sure anyone has a clue at this point.

Not to sound defeatist, this will pass. Question is will it pass kind of quickly or reeeeaaalllly slowly. I've never been a BUY GOLD! guy, but I'm looking into it with the feeble resources I have available for consideration.
ebuddy
     
turtle777  (op)
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Nov 24, 2009, 03:02 AM
 
Here's a very interesting article to explain how the "printing of money" is technically done w/o using a printing press.

Central Banks - The Shell Game - How the Federal Reserve is Monetizing Debt - Aug. 25, 2009 | Blogs at Chris Martenson - Central Banks, Chris Martenson's Blog, Federal Reserve, Martenson Report, Treasury bills, Treasury bonds

It's an unprecedented monetization of debt, which will kill the USD.

-t
     
Big Mac
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Nov 26, 2009, 02:59 AM
 
Purposely. Indebted governments welcome inflation. It will make Carter-era inflation seem tame, and those at the bottom of the economic landscape will suffer the most.

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
 
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