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More Inflation Ahead: At Best, Plan on Semi-Retirement
Imagine that you were a weakling who kept his cash under his mattress, and you lived in a bad neighborhood that was dominated by the Mafia. Every year or two, Mafia thugs would come by and threaten to beat you to death, and demand: “Half for us and half for you.” That is a bit like what it is like to live in an era of mass inflation. But with inflation, the cash extractions are gradual, and almost invisible. No thugs. Just melting purchasing power. Perhaps I chose a poor analogy, but bear with me, while I explain: As a …
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