to the economic malaise of the 1970s. and we know there were huge costs to that. think about what s happening right now, spiking inflation. spiking prices at the pump. empty shelves. authoritarian energy producers in power, spike in crimes. biden wants to build back to the 1970s, jimmy carter economic malaise, and we all know there were gigantic costs to america. nobody wants to go there. david: well, inflation has a number of different causes, one of them clearly is spending too much. deficit spending, spending money you don t have. what happens, i don t want to get too much into the weeds, but basically what happens is the federal reserve buys up the treasuryies, 60% of all the debt issued by the treasury, then hay print up cash in order to pay for the buying up of the bonds, and that s where inflation that s one of the places inflation comes from. the president claims that spending more money will make less inflation, but it s the
cyprus is a very small country, very different from the united states in that we print money. they cannot. so investors have been thinking, you know, i don t think this is going to happen here. however tcould have an impact, tomorrow, if there is no deal essentially met by the deadline. jamie: so let s talk about what could happen here when the markets open, as early as not to overseas. what do you expect? no deal. essentially, money would flow to assets that are less risky. so the dollar and gold would go up. treasuryies would go up and money might flow out of stocks. but we have seen such a bull market and it s shrugging its shoulders at all of these deadliance. the s&p will make another run for its all-time record high this week because there are other there is other economic