Memoirs of a Billionaire Cab Driver by Dan Langston

Author:Dan Langston
Language: eng
Format: epub
Publisher: Life-Plan, LP
Published: 2015-03-15T00:00:00+00:00

There are only two ways a country can spends more than it earns. The first is to borrow it, and the second is to print it. Both methods ultimately produce inflation.

With your Federal Debt doubling from $8 trillion to $16 trillion in just 7 years, that is a compounded growth rate of over 10%. So I feel an estimate of 8% inflation is a fairly conservative assumption for prudent future planning.

Therefore, let’s look at the long range effects of inflation over time. Mr. Langston, in this next illustration I am going to assume an 8% inflation rate.

With that Mr. Kane then took a paper napkin from the table and carefully drew a chart like the one below.

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