The Consequences of the Globalization Revolution

We're not going to be able to raise taxes enough, one because it's political, not feasible, and economic. We either monetize them and cause inflation or if we don't,. eventually, you have a debt crisis or you're going to crowd out economic growth Or both. So the great moderation is over and we're going to be in the world of great inflationary and the inflationary instability. These are all both cyclical and secular factors that will lead us to higher inflation over the medium term.