"The next 3-5 years are going to be very, very challenging … for the first time in a long, long time I'm actually worried about inflation," says Druckenmiller on the Fed. "I think we could easily see 5-10% inflation in the next 4 or 5 years." pic.twitter.com/Y4qWieNf1R
— Win Smart, CFA (@WinfieldSmart) September 9, 2020
Rather than decry austerity, which demands an open political discussion of trade-offs, we should decry inflation’s stealthy reduction of purchasing power.