Scott, is that you?
Somebody told me they saw someone on MSNBC, who said inflation was not a problem, and was not going to be a problem.
At the most basic level, isn’t inflation caused by increases in the money supply? And hasn’t the money supply increased substantially?
It is, and the money supply has been increasing by around 38% yearly. To reach equilibrium takes awhile but we will be experiencing 38% soon
Refer to the book This Time is Different: Eight Centuries of Economic Folly.
Unfortunately for us each disaster is the same, the cause of which is excused away by pretending to be more intelligent and knowledgeable than our predecessors.
“At the most basic level, isn’t inflation caused by increases in the money supply?”
A good definition of inflation is too much money chasing to few goods.
Too much money chasing too few of goods. So some of it is money printing and some of it is production of goods isn’t at pre-pandemic levels yet.
Scott, is that you?
They got away with nonstop lying about Trump for five years because they stayed in lockstep and most people were too lazy to do any research.
But they can't get away with lying about inflation. People notice when they pay more for food, gas and other necessities.
And our Damnfool in Chief wants to drop another $6 trillion of federal money into the economy. This is so far beyond what Lyndon Johnson did to trigger the inflation of the 70's.