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Michael's avatar

Thank you Alasdair.

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Gone Fishin’'s avatar

You never fail to impress in these sorts of exchanges as with this one hosted by Darrell Thomas on VRIC Media. Well done and thank you for carrying on with your astute messaging.

As Sir Winston Churchill said in 1944, ‘the longer you can look back, the farther you can look forward.’ I remember my own struggles during the early 1970’s **inflation surge. I’ve decided to coin a term for us in the 2020’s - Aetas Intractabilis

Something must serve as the outlet for these [Aetas Intractabilis] pressures, and the most likely escape valve is the dollar itself. AMERICA’S TWIN DEFICIT TRAP CRESCAT CAPITAL AUGUST 23, 2025 RESEARCH LETTER https://www.crescat.net/americas-twin-deficit-trap/

Kindest Regards,

Mark

https://lxvv.substack.com/

** the Great Inflation, primarily caused by two major oil shocks, the Nixon price controls program lifting, legacy of loose monetary policy from the Vietnam War and Great Society spending… and the devaluation of the U.S. dollar (which is continuing in earnest).

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