I don't know about in other countries, but, in the US, the decision has been made that current spending is more important that any issues that may arise from the debt load. The current argument is to spend 1 trillion from the conservatives or 1.7 trillion from the liberals on infrastructure. This is above normal spending. I don't care how many educated economists state otherwise, that type of spending leads to hyper-inflation and economic crashes.
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Dont by the hyper-inflation discussion that those same educated economist promote. Keep in mind it is those with PHDs at Harvard and Yale who are espousing the money printing leads to hyperinflation.
Forty years of deficit spending proves otherwise. You statement about economic crashes sums it up: that is deflationary.
So if the Fed wrecks the economy, which they will, you will see inflation fears plummet.
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