There is inflation all over world and ours is less than many countries. It is a world wide phenomena today,
Did all those countries print too much money?
And if you right wingers are so concerned about needing to print so much money why did you cut taxes on the rich about a zillion times over the last 20 years, which is the reason we have these large deficits because our revenue decreased by trillions?
Trump did a two trillion tax cut.
The insanity of Liz Truss wanting to borrow money to cut taxes is what Reagan di when he put taxes on social security so he could cut taxes on the rich, and all the GOP presidents have done since!
You have no ability to connect the dots as all you look at is your stupid dogma.
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Scarcity is not inflation.
That might not have been covered until Econ 102.
Inflation is "always and everywhere a monetary phenomenon. It is always and everywhere a result of too much money, a more rapid increase in the quantity of money than in output. Moreover, in the modern era . . . governments control the quantity of money. The result is, that in the United States, inflation is made in Washington and nowhere else." - Dr. Milton Friedman
If you cannot understand this precept, then you cannot grasp the broader implications. None of the people you want to blame -- like business, or foreign governments, or whoever, have the power to create inflation. Only the government, that controls the printing of money, can create inflation in the United States.
Those who believe inflation is driven by the price of oil or some other commodity, just do not have a fundamental understanding of the issue. Printing money in excess of output causes inflation. Nothing else does.
Price increases are not the same thing as inflation. |
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