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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (255230)	10/24/2022 11:52:39 PM
From: i-node	Read Replies (1) \| Respond to of 360259

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.