1. Will Inflation and Growth Solve the Deficit Problem?


Inflation Remains Low

Is Inflation Back?

A 15 Year Cycle Agrees
We Are Less Miserable
High Leverage Often Slows Growth
Borrowing Increases Refinancing Expense
Low Growth/Inflation Keeps Debt High
Exorbitant Dollar Privilege Important
needed to keep interest rates reasonable

Early Returns Positive

Inflation Remains Low

More Long-Term Economic Question

Recession, Market Crash, Both?

   Will Debt End U.S. Capitalism?

Jobs Loss to AI Growth

Dollar Privilege Continuation

Disposition of Illegal Immigrants












Is Inflation Back? No!

Annual Inflation Chart



A 15 Year Cycle Agrees


We Are Less Miserable


Junk Bond Market Still in Total Denial, Fighting the Fed 4/18/18 
See Why Interest Rates Are Rising




High Leverage Usually Slows Economic Growth
Increasing Interest Rates Will Lower Existing Debt Market Value
But Make Refinancing More Expensive


More Federal Borrowing Increases Interest Rate
and Refinancing Expense
for Many



Low Growth/Inflation Keeps Debt High



High Deficits During Low Unemployment Is Unusual



Tax Cuts During War Also Unusual



A Bumpy Road Ahead For The Global Financial System