Billionaire businessman warns the Fed is wrong. Inflation is here to stay.

CNBC/Kevin Stankiewicz

Repost from 7-30-2021

graphic image of inflation genie out of the bottle“[B]oth raw material and labor shortages have caused increased consumer prices during the pandemic economic reopening. Now, the potential for trillions of dollars of additional government spending on top of that is worrisome, Langone said.”

USAGOLD note: Some of the most strident – and believable – warnings about inflation are coming from business people on the front line of the U.S. economy, like Home Depot’s Ken Langone. He dares to mention the possibility of hyperinflation and warns Congress that the $3.5 trillion infrastructure bill is “playing with fire.”

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