Over ten years ago, we predicted that, as the Federal government approached insolvency, the Federal Reserve would start printing money to monetize the government spending, and that that would give us sustained inflation in the 5% plus range. We saw the 5% plus inflation and, as the Fed fought it, we then saw interest rates skyrocket. Trillion dollar plus deficits are the new normal, Social Security is within a decade of becoming insolvent, and that will mean even more borrowing. It appears that people are just now becoming aware of the problem. Unfortunately, it's almost too late to do anything about it.

Foolishness of the Week: 07:46 Main episode: 14:20

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