STAGFLATION is increasing costs and decreasing business activity = lower corporate profits and individual income = lower tax revenues plus exemption temporarily of the many from the Alternative Minimum Tax category = in the face of continue high spending an explosion in the US Federal budget deficit = in the face of a continuing US Trade deficit and a runaway US Current Account deficit = a severely lower US dollar = significantly higher gold prices = $1650 for gold!
STAGFLATION is increasing costs and decreasing business activity...
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