We are currently witnessing our government attempt to do the impossible—borrow and spend the country into prosperity. Unfortunately, at this point in time, the government has virtually backed itself into a corner. A viable choice of action out of the current crisis no longer exists. We are now contemplating a single option, “Inflate or Die,” a term coined by the late economist Richard Russell.
To add to the complexities of our current malady, many within the political establishment are advocating socialism as a cure. This is akin to taking a bite out of the creature that created the problem in the first place. It is not generally acknowledged that such deficit spending continues to increase and now at an exponential level that requires even more currency creation and increased taxation simply to keep the Ponzi scheme afloat.
The effects of such borrowing and spending create inflation at an equally exponential rate, to the point where Mr. Russell’s axi...
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