Nice one.
One could add this to your equation, I think:
= stagflation or = heavy recession.
The first one may depend on still higher prices for oil and much less off-take of Bonds by foreigners, I think.
(Bonds are issued to pay for deficits).
Should the US persist with "over printing" of currency, then an explosive cocktail could result.
Whatever, interest rates must rise.
The second one is becoming more likely with time.
Gerry
