Thanks largely to the EZ money era wrought by America’s funny money, the world’s reserve currency, feds everywhere spend too much money. Economies adapted to the cash flow.
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Punked
Officially, consumer price inflation meant that stocks lost about half their value. The price of gold, meanwhile, jumped from $35 in the beginning of the 70s, to $540 at the end.
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Some of Mr. Trump’s tariffs are so peculiar, it’s not clear where they fit into the constitutional structure. They are used as sanctions, punishments, bargaining chips and foreign policy weapons.
Bill Bonner is the editor for

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