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Inflated: Money, Debt, and the American Dream
432 pages, Hardcover
Published May 6, 2025
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Displaying 1 - 2 of 2 reviews
November 16, 2025
Some really interesting thoughts here, and a long-term perspective on the history of money and debt in American history. There are certainly some strong viewpoints here, so don't read it as an entirely objective assessment. I think that the assessments are intelligent and informed assessments, but definitely from a fiscal perspective and not necessarily from a societal perspective. There may be more cross over from fiscal perspectives to societal perspectives in reality than most of us would think or desire.
The fundamental point - especially of the last half of the book - is can America find a way to live within its means? Americans have NEVER wanted to do that, and are increasing worse at doing so. The inflation we have is likely an inescapable result of printing money to fund our budget deficits. If we can't figure out a way to at the very least reduce the annual deficit to something manageable, we're likely all in trouble. Then we end up in a spiral of taking on bigger deficits to give away more things to the people who don't have much, causing more inflation and further reducing the value of what they do have. We have to figure out how to stop giving things away. We also have to figure out how to start paying for the things we need and want.
It is an interesting time to be reading a book like this. Our politicians can't even agree on a budget with trillions of dollars of deficit. How we will move from that sort of incompetent government to a set of responsible choices that bring spending more in line with income is anyone's guess. Clearly is must start by deciding that it needs to be done. The answer will also require BOTH increases in revenue and decreases in spending. The long-term consequences of not having that reckoning are having the reckoning forced upon us by some unpleasant events not of our choosing. Best to figure it out on our own while we have more flexibility and freedom to maneuver.
The fundamental point - especially of the last half of the book - is can America find a way to live within its means? Americans have NEVER wanted to do that, and are increasing worse at doing so. The inflation we have is likely an inescapable result of printing money to fund our budget deficits. If we can't figure out a way to at the very least reduce the annual deficit to something manageable, we're likely all in trouble. Then we end up in a spiral of taking on bigger deficits to give away more things to the people who don't have much, causing more inflation and further reducing the value of what they do have. We have to figure out how to stop giving things away. We also have to figure out how to start paying for the things we need and want.
It is an interesting time to be reading a book like this. Our politicians can't even agree on a budget with trillions of dollars of deficit. How we will move from that sort of incompetent government to a set of responsible choices that bring spending more in line with income is anyone's guess. Clearly is must start by deciding that it needs to be done. The answer will also require BOTH increases in revenue and decreases in spending. The long-term consequences of not having that reckoning are having the reckoning forced upon us by some unpleasant events not of our choosing. Best to figure it out on our own while we have more flexibility and freedom to maneuver.
August 25, 2025
I learned a lot of new things in this book. It appears history continues to repeat itself. From Abraham Lincoln to FDR devaluing the dollar.
Displaying 1 - 2 of 2 reviews