Inflation is a matter of degree. Venezuelan type INFLATION or past U.S. type Inflation. I happen to believe that we are headed to the 200% type.
Because, if you have not noticed, there is a war on Fossil Fuels. There is even a Cabinet Level Position (John Kerry) whose sole job is to fight and eliminate Fossil Fuels.
These people are not scientists or engineers and do not know how imbedded Fossil Fuels are into the World's economy. Shut Pipelines down, restrict oil in any way and (I believe) energy will rise to levels never seen before. There will be countries "bidding" for Natural Gas and Oil. Russia, Iran and Saudi Arabia will laugh all the way to the Bank as THEY increase their prices to everyone. Once the US gets so far behind, a new administration will have to pay the NEW WORLD Price for Oil as Air Craft Carriers, Airplanes and Diesel Trucks will NEVER run on electric power. Yes, Oil at prices Never seen before and thus everything at prices NEVER seen before. Believe it or Not. Just trying to explain the way things are going.
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