Government spending has soared since 2008, but spending during Covid and the upcoming infrastructure bill represents an entirely new level of spending This government spending, alongside soaring oil prices and a supply chain crisis, are threatening to cause hyperinflation Some analysts see this hyperinflation leading to a devaluation of the dollar that could see oil prices breaking $180 by 2022 Last year, shortly after the World Health Organization (WHO) declared Covid-19 a global pandemic, governments everywhere unveiled massive monetary and fiscal stimuli (over $15T globally) in a bid to forestall the economic fallout of the pandemic. The U.S. federal government stepped in with a broad array of measures, pumping about $4 trillion into the economy ; sending cash directly to households, boosting unemployment benefits, and creating several new grant and loan programs for businesses. It was not long before politically influential players such as Republican Senator Pat Toomey of […]