Originally Posted by Bucking Bar

A very smart post. Just adding on:

The Fed is a lousy tool for fixing inflation. Rising interest rates and Fed pulling its cash off the table are crushing 401K's (which people don't spend today). Sure, this fixes inflation 10 to 20 years from now at the risk of many middle-class savers becoming wards of the state.

Inflation is caused by all the COVID $$ dumped by Trump, Congress and Biden into lower middle to poverty level folks who spend it like I eat Thin Mints during cookie season. Congress just can't stop trying to buy votes. This gets spent and bounces around 7 to 9x before it eventually finds its way into some monopolists' spreadsheet where it stops until they read Ayn Rand while taking a dump and decide to buy Twitter.

Great if you are broke, indebted with no realistic expectation of paying it back, and careless.

If you are the self-starter, pull yourself up by the bootstraps, save a few million and retire (as most pilots are) WE are getting our teeth kicked out and left out on the curb to die a slow and painful economic death.

Prognosis: long-term optimistic for our children.... The way things are going we might be living in their basement.