At 2% per year, inflation destroys one half the value of the U.S. Dollar every 36 years.
How, exactly, is that currency destruction good for the American economy?
Oh, for the good old days of 2008,when we were all gonna die from Deflation.
Americans need to realize that there are actually two different economies (and two sets of economic statistics): Washington (and related entities) and the rest of America. Non-Washington lives in the real economic world of inflation, booms, busts, layoffs, high unemployment, etc, while Washington never experiences anything negative with regard to its economy. Washington’s economy is always booming, no layoffs, no recessions, with nothing to worry about at all except how to keep Non-Washington from becoming too aware of the scam. Inflation is never a problem for Washington as it just makes the trough wider and deeper.