Episode 305: How Did We Get Here?
Over the past century, three constraints on the federal government have failed. When we started ignoring Constitutional constraints, we opened the door to massive increases in federal spending. When voters started asking politicians for more “free” stuff, we walked through the door. And when we went off the gold standard politicians were able to strong-arm the Federal Reserve into funding the massive spending. What transpired was unsustainable spending, which created unsustainable debt, which required money printing, which is causing inflation.
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The skinny
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