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.
While the Fed governors claim "all is well" and that inflation is "transitory," the bad news continues to pile up. Inflation will be with us for a long time.
Is it too much to hope that the current inflation will "burn out" via similar mechanisms that have reined in inflation in the past?
The Federal Reserve has created a tsunami of new money, but a tsunami ultimately must crash, and so will the Fed's inflation scheme.
Former Daily Show host Jon Stewart asked why the Fed couldn’t have bailed out homeowners, or just “quantitative ease” away the Treasury’s debt. Bob breaks down why.
Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.
The "experts" solemnly tell us that deflation is even worse than inflation, and that deflation always will lead an economy into recession. The truth turns such "wisdom" upside down.
