Nov 29, 2021
In the 1970’s, then Federal Reserve Chair Paul Volcker implemented a series of interest rate hikes to curb inflation.
But times have changed. Today, the powers that be no qualms about pumping trillions of dollars into the economy with nothing to back it. And businesses, individuals and the government itself are all dependent on very low interest rates.
So, what is the likely outcome of the current economic policy? Is it time to stock up your bolt-hole?
My long-time friend and mentor Bill Bonner is the founder of Agora Financial , the leading innovator in the financial advice industry for the last two decades.
On this episode of The Wiggin Sessions, Bill joins me to discuss Joe Biden’s $6 trillion Build Back Better social engineering plan and share his take on skyrocketing inflation—with no sign of a Fed Chair like Paul Volcker in sight.
Bill explains how the Fed’s aim has changed from protecting our currency to manipulating the economy and describes the two ways a bubble built on credit ends.
Listen in for Bill’s insight on how we’re following Argentina’s financial playbook and learn how to protect yourself from the impending financial reckoning day here in the US.
The real cost of the government’s infrastructure and social spending bills
How printing money is responsible for skyrocketing inflation
What former Fed Chair Paul Volcker did to kill inflation in the 1970’s
How the Fed’s aim has changed from protecting our currency to manipulating the economy
The 2 ways a bubble built on credit is likely to end
Bill’s insight on how the US is following Argentina’s financial playbook
The challenge of running a business when you don’t have confidence in the government
How the pandemic contributed to the current economic environment
Why we’re in for a chaotic, impoverishing few years (and how to protect yourself)
Bill Bonner’s Diary at Rogue Economics
Be sure to follow The Wiggin Sessions on your socials. You can find me on—
Empire of Debt: The Rise of an Epic Financial Crisis by Will Bonner and Addison Wiggin
Infrastructure Investment and Jobs Act
‘The Real Biden Bill: At Least $4.6 Trillion’ in The Wall Street Journal
David Stockman’s Contra Corner
‘Deere Strike to End as Workers Vote to Approve Contract’ in Reuters
‘Ford, GM Step into Chip Business’ in The Wall Street Journal
The Demise of the Dollar … and Why It’s Great for Your Investments by Addison Wiggin