Inflation is coming down fast. That’s the good news. But for how long? We still are riding the Biden-Harris wave of $2 trillion a year of new debt spending that will have to be financed ultimately by money-printing. (We’re not making any promises that Republican spendthrifts will be much better.). 

The point is that if you look at the curve below from our ace Unleash Prosperity economist EJ Antoni, we have been eerily retracing the course of the 1970s. Without federal spending restraint, inflation could temporarily tame and then lift off again to even higher levels.  

Altering this course will require a radical policy change of direction and that may require regime change.