The Time for Gold Is Not Yet

The risks of a sustained overheating of wage spiral getting out of hand is real. We've already closed the output gap in nominal traps, ok. Enclosing a g d p gap during a pandemic? No less yes. If you're running an economy too hot, those corps rates, those wages, those course pites, those rents, will keep pushing through. And that's because, you there will be no spare capacity,. So what does that mean? You have to raise rats, not just to tackle inflation, but to actually slow the economy down. What happens when that raising of rates effectively bankrupts the federal government with increased o borrowing? I mean, that's,