At the moment, Lewis Altfest, the head of Altfest Personal Wealth Management, a fee-only financial management firm based in New York, is reasonably sanguine about the prospect of inflation.

Despite the media hype about the soaring levels of government borrowing, “Right now government debt is at 70% of GDP,” he notes. And while he allows that that’s a substantial rise, Altfest doesn’t believe it’s reached the tipping point. “Seventy percent--that’s not so terrible!” he declares.

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