Why have prices of building materials soared while consumer prices are relatively stable? This is easier to understand once we reject the myth of monetary neutrality and see how price inflation enters the market in different ways.
Just over twenty-four years ago the Surgery Center of Oklahoma began with a simple mission: deliver the highest quality of care at a reasonable and posted price. They've since faced many obstacles from Uncle Sam and his healthcare cronies.
Powerful federal politicians have many ways of expressing their displeasure with America's private sector, and this is partly why we so rarely hear any real criticism of the feds from corporate America.
When markets are mostly free, prices adjust freely and constantly to adapt to new realities. Yet Keynes failed to understand how market rigidities are caused by government intervention. He blamed markets instead.
The specific institutional conditions in 1936 Britain caused inflation to work as intended once, and not well. Stimulus policy today completely ignores these origins and has become a universal solvent to heal all economic ills.