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Middle-class lifestyles will be curbed as we are instructed to strive for sustainability and transition to apartment living and mass transit. But the Obamas will still keep their three mansions, and Silicon Valley futurists will insist on exemptions for their yachts.
In truth, we are about to see a radical reset - of the current reset. It will be a different sort of transformation than the elites are expecting and one that they should greatly fear.
The world and the United States are furious over hyperinflation that may soon exceed 10% per year. We will be lucky if it ends only in recession or stagflation, rather than a global depression.
The mess was created by the same apparat who bought into “modern monetary theory.” That silly university idea claimed prosperity would follow vastly expanding the money supply, keeping interest rates at de facto zero levels, running huge annual deficits, piling up unsustainable national debt, and subsidizing workers to stay home.
Natural gas and oil costs are now soaring to unsustainable levels - and to the point where the middle class simply will not be able to travel, keep warm in winter, or cool in summer.
Both in Europe and the United States left-wing governments deliberately curbed drilling and non-Russian pipelines. They shut down nuclear power plants and subsidized costly, inefficient solar and wind projects. They ended up not with utopia, but with fuel shortages, high prices, and energy dependency on the world’s most repressive regimes.
they promise the Jetsons
we get the Flintstones
binge watch Gilligan’s Island to prep for Green New Deal
While 10% annual would be terrible it's not "hyperinflation" and we aren't at 10% (yet).
Hyperinflation is something like 50% per month. It's extremely unlikely that the US Dollar will ever experience that.
The Fed knows how to break an inflation. They will choke off credit like Paul Volcker did, with interest rates spiking. But we also need a President not dedicated to choking off energy production or it may not work and the economy will remain stagnant and Americans will get much poorer.