It's hard to imagine that the Fed could raise rates to nearly 20% again to stop an inflation. It's hard to imagine they could even raise rates to 5%, given the massive indebtedness at every level of society. The federal debt to GDP ratio today is more than triple what it was in 1980, and the household debt to income ratio today is about double what it was in 1980.
"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."
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