Contractionary monetary policy may be necessary to slow the rise of inflation, but the recessionary results of this remind us why the Fed's inflationary policy is so dangerous.
In spite of what they say, governments will do nothing about inflation. Even though "money printing" is the real cause of this, governments will just keep blaming red herrings like supply chain problems.
It will come as yesterday's news that the speculator is perennially under attack by the social justice warriors. Yet speculators serve a crucial and valuable role in surviving economic disasters.
While bankruptcy has a negative connotation in the business world, “Bankruptcy fulfills the crucially important social function of preserving the available stock of capital."
We may be told price controls are a temporary necessity, as in 1971 under Nixon. But one thing is certain: price controls will do nothing to resolve the issues underlying the inflation.
