Inflation could spike to 20% in the next
few years as the US money supply explodes,
says Wharton professor Jeremy Siegel
Business Insider,
by
Will Daniel
Original Article
Posted By: NorthernDog,
5/15/2021 1:50:12 PM
Wharton professor Jeremy Siegel said inflation could spike to 20% in the next two or three years due to "unprecedented" fiscal and monetary stimulus and an explosion of the US money supply. "I'm predicting here that over the next two, three years, we could easily have 20% inflation with this increase in the money supply," Siegel said in a recent interview with CNBC. (Snip) Siegel noted that the total money supply in the US has gone up almost 30% since the start of the year alone. "That money is not going to disappear. That money is going to find its
Reply 1 - Posted by:
DVC 5/15/2021 2:05:15 PM (No. 786589)
As predicted, we are becoming Venezuela.
13 people like this.
Reply 2 - Posted by:
zephyrgirl 5/15/2021 2:23:23 PM (No. 786601)
I lived through the 70s, and 2021 makes me feel like I've gone back in time. On the bright side, I learned a lot during those years - live below my means, stay out of debt, and always, always have at least six months of living expenses in a savings account.
21 people like this.
Reply 3 - Posted by:
Blue-Z-Anna 5/15/2021 3:01:40 PM (No. 786625)
Thank you Captain Obvious!
5 people like this.
Inflation is going to reach 20% by the end of the year, and go up from there. If there was another currency in the world which any more dependable than the dollar, it would stop being the world reserve currency. I expect that sometime in the next four years something will emerge as the no international standard. It may be a return to gold, or it may be one of the cryptocurrencies.
4 people like this.
Reply 5 - Posted by:
bad-hair 5/15/2021 3:33:50 PM (No. 786652)
#2 pretty much nails it. Make any big purchases ASAP and hunker down. If you liked Carter you're gonna LOVE Biden. If you don't already have it get a cheap 5 acres of land somewhere to grow food.
3 people like this.
Reply 6 - Posted by:
MickTurn 5/15/2021 3:37:27 PM (No. 786654)
We're going Warp Speed already...4% in April already on target for 4% x 12 months = 48%, NOT 20%.
Learn how to do math!
1 person likes this.
Reply 7 - Posted by:
JackBurton 5/15/2021 3:41:14 PM (No. 786659)
I've heard some Jeremy Siegel recommendations in the past. He's one smart dude.
Keeping my fingers crossed.
2 people like this.
Reply 8 - Posted by:
JHHolliday 5/15/2021 4:08:52 PM (No. 786672)
I have one of those original 100 trillion dollar Zimbabwe notes I bought on Ebay. I framed it as a reminder that the Dems are going to wreck the USA. They have certainly made a good start. #2 has good advice.
3 people like this.
Reply 9 - Posted by:
stablemoney 5/15/2021 4:55:17 PM (No. 786704)
Both Democrats and Republicans think they can fund anything now. No constraints anywhere. There is no longer any constraint on what the government should do, who or what should be funded. In the past, the people had to pay for it. Now the Federal Reserve just prints the money, and the people will soon realize they will pay for it. It all starts with personnel. We have the worst personnel. I cannot imagine why the Chinese wanted a list of the personnel we have.
3 people like this.
Reply 10 - Posted by:
bpl40 5/15/2021 5:17:10 PM (No. 786719)
Bring back Trump and his policies. I see no other option.
5 people like this.
Reply 11 - Posted by:
Sully 5/15/2021 5:19:01 PM (No. 786721)
#9 bingo. Both parties do it including Pres Trump. He printed money in he first budget when Repubs owned congress and would not agree limit spending. It was grotesque.
Then Pres Trump gave out covid checks and wanted bigger checks from Biteme.
Of course, the dems do it worse. And will continue to do it to purposely destroy not just the economy but capitalism itself.
2 people like this.
Reply 12 - Posted by:
Mr C 5/15/2021 5:45:13 PM (No. 786732)
Correction 'inflation could spike to 20% in the next year' or at the present rate of 4% per month that would be 4 x 12 or almost 1% using Joe O'Biden math!
0 people like this.
Reply 13 - Posted by:
bighambone 5/15/2021 6:11:10 PM (No. 786758)
20% inflation will wipe out the leftist Democrats in the coming elections. The question is can Biden beat Carter as the inflation champion?
0 people like this.
Reply 14 - Posted by:
lakerman1 5/15/2021 6:15:11 PM (No. 786761)
I have suggest, since last summer, that you should buy gold or silver.
I have taken my own advice.
I continue to take my own advice.
2 people like this.
Reply 15 - Posted by:
AntiStatist 5/15/2021 6:17:25 PM (No. 786763)
Paying people to not work imposes a double whammy on the economy- inflation and no growth. Stagflation.
No surprise. The state lockdowns were a terrible mistake, way out of proportion to the threat by the virus, and this is the outcome.
But hey, that free money made for a lot of politician “Santa Clauses”, didn’t it?
2 people like this.
Reply 16 - Posted by:
LC Chihuahua 5/15/2021 6:45:02 PM (No. 786782)
The dollar is losing value. The Democrats are OK with that. Remember, if its bad for the USA and its citizens, Biden/Obama are for it. Where are the Republicans? We are so screwed.
1 person likes this.
Reply 17 - Posted by:
EJKrausJr 5/15/2021 6:51:07 PM (No. 786790)
Bienvenido a venezuela!
2 people like this.
Reply 18 - Posted by:
TXknitter 5/16/2021 11:32:05 AM (No. 787343)
The economic woes have their roots not only in massive spending of both parties. They do the spending because of THEIR corruption, greed and lust for power. The federal govt is not some blob or faceless entity. It is led and run by people who have gotten wealthy breaking or bending laws, selling out America to foreigners, and we the people have allowed it to happen for decades and decades. President Trump tried to turn it around. The enemy came out of hiding to face us all and by the grace of God alone did Trump even live through the battle. In the end, the Deep State successfully railroaded a duly elected man out of DC. They installed a puppet government which the Republicans went along with and still do. God Alone can help us now.
2 people like this.
Reply 19 - Posted by:
JimBob 5/18/2021 9:57:19 PM (No. 789991)
"The surest way to attack a Capitalist society is to Debauch the Currency".....Lenin.
.... Traitor Joe and his Handlers are proceeding down that road a Warp Speed.
0 people like this.
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In many areas housing prices are already rising at a 20% annualized rate. Everything else is heading in the same direction.