An op-ed by Martin Feldstein in today’s WSJ says what I keep saying since the first edition of my How To Protect Your Life Savings from Hyperinflation & Depreciation came out in 2010: The federal government is financially doomed by growth of entitlements—Medicare, Medicaid, and Social security. The article is “The Debt Crisis Is Coming Soon.”
But no one listens. I keep pointing out the various article like this where someone more famous than I says it. Why do they not say it louder? No one wants to hear it. Why do they say it at all then? Because they know it will be the main disaster of US history when it happens and they want to be on the record as having given the warning back when.
Once the hyperinflation arrives, it will be taken care of quickly. It has to. But I fear the “solution” will be socialism.
When it happens, the formerly wealthy Americans frantically scrambling for food, fuel, medicine, and foreign currency will wonder why no one saw this coming. Plenty saw it coming—economists, persons familiar with the US federal budget, bond market experts, financial historians, me.
But no one wanted to hear about it. No one wanted to do anything about it. No one wanted to think about it.
Is there anything that can be done? Yeah. It’s in my 324 pages, 8 1/2 x 11, paperback book.