Episode 58: Federal Spending Is Out of Control
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The Compounding Nature of Inflation
The monetization of the deficit to double inflation, so we go from 2 to 3 percent to 4 to 6 percent. And then as Social Security becomes insolvent, you probably need another trillion dollars a year or so. So now you're talking regular sustained annual inflation in the range of 6 to 9 percent a year. We really run the risk of having a Venezuelan-type result if we don't at some point address this," he says.
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