During the 1970s inflation, M2 money supply growth never surpassed 14% per annum. This year we just blew past 23%. It is time to start paying attention!
In spite of the obvious differences betewen the Soviet and U.S. economies there are disconcerting parallels between the systemic roots of their respective crises (USSR in 1980s and USA today).USSR's stalling GDP growth, growing 'defence' budget and balooning budget deficits ultimately led to currency debasement and high inflation. There's every likelihood that U.S. dollar will … Continue reading Inflation: lessons from last empire’s collapse