Since 2008, the government has decided that the economy never goes into recession and will borrow and print dollars to make that the case.
Fiscal caution has been thrown away.
Debt to GDP has soared since 2007 to well over 100%.
There were other ways to get through covid, but politicians borrowed from the future.
Money supply has exploded and prices can explode by many multiples (inflation) — it is all a game about expectations!
Once inflation takes off it is very difficult to control..
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