[quote=deadzone]You can’t compare the 70s to today. The current asset bubble and subsequent inflation were caused directly by the Federal Reserve QE policy which has only existed since 2009. This was an experimental policy intended to recover from the 2008 financial crisis (and with real purpose to bail out the bankers and wealthy elite). But they clearly took this QE too far and the entire economy has been addicted to the Fed like a crack whore ever since. Then the Fed went into hyperdrive during Covid when the Fed nearly doubled their balance sheet in less than 2 years
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I can indeed compare the 1970s to today. (In fact that’s exactly what I did above) In fact some of the monetary levers pulled were much more drastic than QE, such as end of Bretton Woods, effectively eliminating any ties to gold, etc. History doesn’t repeat itself exactly but often it rhymes. Those who ignore it do so at their own peril
