''Inflation is everywhere and at all times a monetary phenomenon.''
He is and always has been exactly right in that sentiment. Therefore, since government control the supply of money, inflation is entirely a governmental phenomenon.
Yet (unsurprisingly), when inflation becomes or threatens to become toxic, goobermint's first reaction is to try (laughably) to restrict the citizenry's methods of conducting commerce.
Case in point? Nixon's idiotic, utterly insane, peacetime wage/price controls in 1971.
And the ''controls'' failed miserably, of course. The only question was who was MORE miserable -- the lunatic price controllers, when their schemes bit the big wazoo, or the ordinary citizen, who paid dearly for these morons' attempt at Godhood.
Looks like we're for it again, m'friend -- the a&&holes in DC have never learnt from their mistakes. and are about to repeat them in one variation or another, all in the name of the ''public good'', to be sure (...that was sarcasm, if you missed it). Hell's bells, they've never even ACKNOWLEDGED their mistakes at ''managing'' an economy, as if a legitimate free mkt economy required much managing.
Yup everyone says we need the government to save us from the free market - what free market? This inflation isn’t really a free market problem to begin with. Sure, demand is up across the globe, but its the Fed that caused the dollar to lose a third or more of its purchasing power.
‘’Inflation is everywhere and at all times a monetary phenomenon.’’
He is and always has been exactly right in that sentiment. Therefore, since government control the supply of money, inflation is entirely a governmental phenomenon.
Hold on...run that past me again...