"The world is his who can see through its pretension. See it to be a lie, and you have already dealt it its mortal blow." -- Ralph Waldo Emerson

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This economic malaise is the aftermath of a reckless spree of money printing and budget deficits. The great money-printer hangover has struck, leaving behind a debt-fueled tissue fire and the grim prospect of years of stagflation.

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The Biden administration has announced a new $7.7 billion student debt relief initiative for 160,000 borrowers, a move that has been criticized by Republicans as "unconstitutional" and an "election year giveaway."