Despite what some in government, and by extension the media, are telling you, inflation is a problem and it won't go away soon given the path we're on. Here today to discuss is Bruce Yandle (mercatus.org), Distinguished Adjunct Fellow at the Mercatus Center at George Mason University. He predicts when the tipping point will be in our economy if things don't change. Eventually, not only will our debt crush us, but even the interest on the debt will become too much. What does our economy look like? He likens it to Frankenstein's monster – stitched together, unpredictable, and one that may eventually turn on us. He also gives us what he would do if he were in charge of the Federal Reserve.
Every few months or so, we break out the crystal ball with esteemed futurist James Kunstler (kunstler.com), who is back with us today, to see where we're headed. James looks at the future of economics and culture, and how if we are expecting to live in an orderly society in the next several decades, we are mistaken. He examines the impending economic reset, debt forgiveness, and how the economic elites see the future versus how he sees it. He explores the future of cities and suburbs, realistically looking at today's realities to predict tomorrow's likelihoods. No one knows the future, but if he's proven correct, we need to be prepared for the tough times ahead.
No matter who eventually emerges the winner of this election, what will the American financial system look like? Or the global economy? On today's podcast, John and Carol dive into the economic arena, covering a variety of topics, including the U.S.'s massive debt load, how other countries are connected financially to the U.S., and the future of currency and global economics. They also surmise what will happen with taxes, businesses, and relations with China should a Biden administration become a reality.