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This week, Joe Biden will meet with the Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard. One’s a Republican, the other one’s a Democrat, and one or the other will be the Fed chair for the next four years.

When Twitter and Square founder Jack Dorsey warned the world about imminent hyperinflation in America and elsewhere, the social media gadflies buzzed and the mainstream TV talking heads were in an uproar. But really, was Dorsey saying anything that contradicts reality?

We saw it coming from a mile away. You can’t have massive fiat money printing – even if Covid is the excuse – without consequences down the road. And now that the price of everything is significantly higher, even the Federal Reserve is acknowledging that there’s a problem.

“Hyperinflation is going to change everything. It’s happening.” This was Twitter and Square CEO Jack Dorsey’s tweet that sparked a debate, while reminding us that the “transitory inflation” narrative has completely broken down.

Out of context, it hardly makes any sense at all. In a recent interview, Bill Gates said that in the future, there will be 10 Teslas, a Google, an Amazon, and a Microsoft for investors. What’s he talking about?

I was a just kid in the 1970’s, but I can still remember the images of long lines at the gas pumps on television. Even then, I understood the importance of oil: it was precious, expensive, and hard to get.