"This has happened many times before, the Fed will see that inflation is getting out of hand and worried about inflationary expectations building up. So they create a recession on purpose to break the inflation. That kind of thing could happen. But then again I don't know that President Trump wants that. And we do have an independent Fed but they might hesitate to break it up. There are people advocating more inflation now, maybe two percent is too low a target. So I could see that inflation the heading up that would mean big capital losses for bondholders. Everything has repercussions."