The Fed Waited Too Long: Here Comes Inflation

EcoMatters - TMO ^ | 2-27-2015 | EcoMatters

[trebb]

What's being destroyed is a permanent middle class that accumulates wealth. Those with government jobs and a few other fortunate sectors will have assets for middle class lives and comfortable retirement, but not anything that gets carried down to the next generation. Only the very wealthy and the very financially savvy will be able to that. That's all opinion. It's what I'm seeing happening as people deal with the new economic realities.

Your read is as good as any I have seen/thought up. Both my wife and I are retired and with retirements/SS and savings,we have enough to get us comfortably through our 80s, if nothing really bad happens, and have a bit to pass on. If half of what could happen comes to pass, we might end up broke and scrimping to not outlive our assets. Because of our age, we should be OK, but I weep for our kids/grand-kids if nothing changes to undo the malfeasance the Left keeps wreaking upon us.

[CommieCutter]

I’d have to find the book but that reads like the Amity Shlaes book from a few years ago.

[arthurus]

Inflation is increaase in the money supply. Only Period. Anything else has to carry a modifier like “price inflation.” Increase in economic activity is expansion, not inflation. It is not inflationary. If the money supply increases at a greater rate than the increase in goods and services which constitutes an expansion then there is inflation. By using the term “inflation”
to mean just anything that comes to mind it loses all meaning and there can be no sensible discussion of economic activity because everyone in the discussion will have a different meaning for the word. The only legitimate use of “inflation” is the term as used by the classical economists, Friedman, Hazlitt, Von Mises, etc. Other uses of the word tend to be political uses and do not reflect actual economic speech.