Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
The Bahnsen Group’s David Bahnsen joins the podcast today to talk about the bear market, inflation, energy geopolitics, and why we may be overly optimistic about our long-term economic fortunes.
Subscribe to The Commentary Magazine Podcast in Apple Podcasts (and leave a 5-star review, please!), or by RSS feed. For all our podcasts in one place, subscribe to the Ricochet Audio Network Superfeed in Apple Podcasts or by RSS feed.
I like Bahnsen but he was VERY wrong on inflation about 10 months ago.
I was thinking the same thing. I remember him saying it was only temporary and that Biden would have a good economy.
I think I can paint part of this picture.
When you have so much public and private debt, the interest payments absorb the excess money all of the time. Furthermore, the excess debt is a sign that the Fed is miss allocating capital which retards growth, which helps. It also means that you have a lot of bad debt and zombie companies. When this debt goes bad, every single time it destroys money. Those guys thought that would go on forever. Something like that.
The next step is the commodity industry got under invested in. It finally took hold as a real problem.