This should cause the economy to slow down. Yet month after month, we get strong job numbers, rosy economic headlines, and assurances that the economy remains robust.

What exactly is going on here? Why hasn't the predicted recession materialized yet?

Of course, the economy isn't as strong as the headline numbers suggest. But economist Daniel Lacalle suggests another reason the data isn't reflecting any kind of significant economic slowdown. He calls it "the nationalization of the economy."

The entire burden of the monetary collapse and rate hikes is falling on the shoulders of families and small businesses, while large corporations and governments are virtually unaffected."

I think a crash is looming. Even economists at the Fed concede there are big cracks in the economic foundation. But Lacalle makes some interesting points worth considering that could explain why we haven't seen a steep economic downturn and why price inflation remains persistent.

The following article was published by the Mises Wire. The opinions expressed are those of the author and do not necessarily reflect those of SchiffGold or Peter Schiff.

Allow me to explain why we have not seen a recession yet despite the collapse in the base money supply. We are witnessing the stealth nationalization of the economy.

What does this mean?

The entire burden of the monetary collapse and rate hikes is falling on the shoulders of families and small businesses, while large corporations and governments are virtually unaffected.