Do the low inflation rates mean that the purchasing power of Japanese and Swiss citizens has increased relative to other countries over time? The answer seems to be no.
Europe wants cheap and abundant energy, but politicians demonize nuclear, gas, and oil. All the interventionist proposals that are put forward by European politicians entail a higher cost for long-suffering consumers.
The states of Europe have more than enough wealth and military potential to deal with a second-rate power like Russia. The American taxpayers, on the other hand, deserve a break from Europe's grifting.
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere.
The usual "experts" claim inflation is a general increase in the price level. Wrong. Prices rise because of inflation, which is a government-caused increase in the amount of money in circulation.
Study of business cycles must be based upon a satisfactory cycle theory, writes Murray Rothbard in America's Great Depression . Gazing at sheaves of statistics without "pre-judgment" is futile.
Those responsible for locking down much of the US during covid blame the pandemic itself for the economic and social havoc that followed. Perhaps they should look at the lockdowns themselves.
