In the demand destruction plan enforced in the 1980s, having less access to money eventually solved the inflation problem. However, our landscape today is different. If the federal government is going to have to continue to borrow money to subsidize the expense of that plan (unemployment, etc), where is such borrowed money going to come from? Our volatile inflation is likely to continue for the next five years- with complicated solutions in the forefront. The only way to prepare for it is to expect it.
In the 1980s, demand destruction worked. But there are major problems with the plan to adopt that solution to inflation today. Here is my breakdown.
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