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Originally Posted by luke3
So I need a history lesson since it was way before my time, what caused the double digit inflation rates during the Carter administration? What parallele with today's situation indicate that we are heading in the same direction?
Inflation is always and everywhere a monetary phenomenon—too much money chasing too few goods. It’s a nasty regressive tax caused by printing money. If that doesn’t describe our economy, I don’t know what is. Watch out for double-digit inflation and interest rates. WTI will be at $125 by spring, if not before., might peak above $150. $5 gasoline everywhere, $6.50 in California. You heard it here first.