Most people alive today never experienced the 1970’s period of runaway inflation. They are quickly coming to terms with their massive loss of their purchasing power. Like a runaway train, once governments lose control, it’s nearly impossible to stop. In an effort to put the genie back in the bottle, they will be forced resort to wage and price controls. As with Nixon’s failed experiment 51 years ago, these efforts are doomed to failure. Here’s 8 reasons why:

1. No one really wants to stop it.

2. Central Banks are powerless.

3. It’s the speculator’s fault.

4. Ignorance of inflation’s true causes.

5. Authoritarianism is in the air.

6. Shortages inevitably lead to higher prices. 7. Something has to be done.

8. The War Drums are Beating.

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