All these discussions about the fed being boxed in with 'inflation' versus 'recession' and we are just stuck in the 70's 'stagflation' mentality. I've heard this time and time again.
LETS BE CLEAR! We are SO beyond the point of 1970 its rediculous to even compare.
Back in the 70's the US was mostly self-sufficient and created and built everything we needed. THAT IS GONE with globalization that has completely hollowed out almost everything meaningful that people need to survive on day to day.
Oh and we owned Gold, Im positive that Gold no longer exists
Energy, Utilities, Food, Housing, Medicine, Autos, Appliances, etc...all rising 20% or more. The ongoing decades of mis-allocation of financial resources has now created the World Wide Debt Ponzi that has gone parabolic instead of building REAL businesses to provide REAL goods and services.
Just look at the 'infrastructure' boondoggle that was proven to ONLY fund 10% REAL infrastructure...the rest is just graft. This is what is fueling the Supply Chain Breakdowns that are already bringing REAL pain to the masses that is just going to get worse Im afraid to say..
In a Cash For Clunkers World, they can no longer ARTIFICIALLY pull enough demand forward to keep the ponzi going to paper over the REAL DESTRUCTION IN THE REAL WORLD ECONOMY!
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