Nearly $2 trillion budget deficits, over $11 trillion of national debt, and trillions of dollars printed out of thin air have consequences. Some feel the inflationary consequences may not rear their ugly head until a few years from now. Others, like Rand, believe they could strike a lot sooner.
Interestingly, as the US stock market has rallied off its crash lows, the price of oil has risen substantially and the value of the US Dollar has steadily dropped. China is developing new currency arrangements with other nations, diversifying its foreign reserves away from the Dollar and buying up lots of gold.
Rand is adamant that paying off debt, balancing the federal budget, and increasing transparency at the Federal Reserve are urgent matters. If these actions are not undertaken soon, our economy may face severe, inflationary consequences in the near future.
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