I don't think there'll be another Paul Volcker arrive just yet. Inflation was going crazy when he arrived, and he needed an interest rate of about 20% to quell it. From what I've heard other commentators say (like Lyn Alden in one of my earlier posts), debt wasn't as high then overall and he could afford to make a move like that.
I think you'll see a guy like him appear if inflation does get that crazy again, but it isn't here yet (yet).
And I'm not sure that it ever will based on my understanding of our current world economy which to me appears set up to cause deflation not inflation. And any fiscal would just offset that, rather than cause big inflation. Ed Harrison (who was in one of the other videos) and the two corporate-speak guys both say this (at least that's what I understand them to be saying) and that makes sense to me.
But I could be quite wrong on how big inflation gets. The latest video from the corporate-speak guys (attached) concludes by saying that the advent of wage growth would trigger inflation (the wage growth being a downstream effect of sustained fiscal stimulus I would think). And then that could send it flying. And then hello Paul Volcker II at that point.
And here too is Friday's (18 June 2021) comments from Raoul Pal (I'm finding the Real Vision commentators useful at the moment). It starts at about 6:55 in:
