Professor Laurence Kotlifoff of Boston University joined us to discuss the impact that rising interest rates will have on the US economy. He’s not overly alarmed. We talked about the real rate of inflation and the Thanksgiving Dinner Index. Then we went on to discuss The Inform Act which will require Congress to actually disclose the debts being shifted to future generations by the underfunded entitlement programs, which total in the hundreds of trillions. Also, Professor Kolikoff believes that Janet Yellen is the better choice to head the Fed as opposed to Larry Sommers.
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