Last year, Joe Biden and his administration claimed that inflation was "transitory." This year, Vladimir Putin gets the blame. Next year, Biden will blame American businesses. And the beat goes on.
The Keynesian "stimulus" policies were suppose to reinvigorate the economy. Instead, they have brought stagflation.
It is interesting that the founder and leader of the market monetarists declared in January 2020 that the world was about to enter a "golden age" of low inflation for the Federal Reserve.
In a recent speech, President Joe Biden blamed inflation on businesses raising prices and told them that they needed to lower their business costs -- but boost wages. You do the math.
Most people—and especially most economists—not only are ignorant of what money actually is, but how and why it became part of our economy in the first place.
Typical economic commentary claims that deflation is a Very Bad Thing. Think again.
France is seeing its wealth-to-income levels rise to Japan's level because it is becoming harder for people to save and build wealth.
Money velocity's role in forcing up prices is misunderstood because today's monetary "authorities" fail to consider how new money is injected into the economy.
While economists and journalists are fond of saying inflation is "X" percent, in reality, the price indexes don't measure inflation accurately. Instead, they are statistical constructs created to benefit the government.
It is the fiat monetary system itself, not deflation, that helps create the unstable conditions that lead to financial crises.
