The latest inflation surveys from 'truflation' indicate that it has not been possible to get inflation under control. At the same time, a labor market dominated by artificial government jobs is slowly turning negative and the government's debt service has reached a level that exceeds military spending. The Fed is therefore trapped for the time being! And the market is pricing in an 80% probability of a rate cut this month. So do we have to expect the inflation scenario of the 70s and a new wave of higher inflation after all?