Fed Hawks Turn Chicken – Ep 806
The Peter Schiff Show Podcast
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Why Is the Inflation That We Have Now So Much Worse Than It Was Back in the Seventies?
The inflation we have now is every bit as bad, if not worse, than anything we experienced during the 19 seventies. In fact, it's probably worse. Because back in 19 80, we didn't have all this debt. The national debt was under a trillion. Now it's over 30 trillion. Back then, we had a trade surplus. Now we have record trade deficits. Back then we were the world's biggest creditor nation. Now we're the world's largest debtor nation. We have a gigantic debt bubble that we don't have today. And because it's so much harder to do something about it, we won't. Even though it's already worse than anything we had
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