There's now no difference between monetary policy and other government programs designed to prop up firms, industries, and other favored groups. The Fed is simply another government planning agency.
Price inflation is so difficult to predict, because there are so many moving parts: money supply, demand, money velocity, and supply of goods and services.
The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.
Governments often demand that you "ask what you can do for your country," but those governments never guarantee us anything in return for our sacrifice.
In theory, it is possible to adjust inflation measures to account for the many constant changes in prices resulting from changing demand, quality, and innovations. But it's essentially impossible to execute these adjustments accurately.
It seems that if you're mildly against the drug war and sky-high taxes, you're a "libertarian" to many left-wing commentators—even if you also support programs like "universal basic income" and renewable energy boondoggles.
The Fed and other central banks are entering into a huge money-printing experiment in hopes of keeping the government-spending machine going at full speed forever. The unintended consequences will be highly destructive.
Although national tragedies tend to bring a country together, it seems clear that the coronavirus will leave America as divided as it has been in modern history.
Can indifference be demonstrated in action?
Lord Kelvin once said, “If you cannot measure it, then it is not science” and “your theory is apt to be based more upon imagination than upon knowledge.” This would certainly seem to apply to the many COVID-19 models now used to destroy human rights across the globe.
