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Politics : The Trump Presidency
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To: koan who wrote (255516)10/27/2022 11:47:50 PM
From: i-node  Read Replies (1) of 358178
 
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output
Milton Friedman.

What this means is that to have inflation you must have a greater increase in the money supply than the extent of production. And that is within the United States, has nothing to do with the Brits or the Chinese or Japanese or any of the rest. Our economy, for this purpose, is hermetically sealed.
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