October 21, 2021
Morbidly Obese Money
Stevem Chase
Just 40 years ago, our debt was one trillion. Today, $30 Trillion. Incredibly HALF of all the money EVER created was done so in the last 18 months. No government looking to massively expand its size and power is going to act against rising prices, despite claiming the opposite.
Populist governments always talk about the middle classes and helping the poor, yet inflation still soars, making everyone poorer.
Governments always use different reasons for inflation: soaring demand, "supply chain disruptions,†or evil corporations’ greed. However, these are excuses.
Inflation is always a monetary phenomenon. Prices soar because money supply rises massively above real output. And giving away money has become THE ticket to winning votes.
And who benefits? People with BIG assets: stock prices rose +32% in 2019, +19% in 2020, 21% this year...(S&P)
I cannot think of a single thing our Gov't is doing to help the working, middle class. Every dollar spent goes to ASSET INFLATION, benefiting the already wealthy.
Just 40 years ago, our debt was one trillion. Today, $30 Trillion. Incredibly HALF of all the money EVER created was done so in the last 18 months. No government looking to massively expand its size and power is going to act against rising prices, despite claiming the opposite.
Populist governments always talk about the middle classes and helping the poor, yet inflation still soars, making everyone poorer.
Governments always use different reasons for inflation: soaring demand, "supply chain disruptions,†or evil corporations’ greed. However, these are excuses.
Inflation is always a monetary phenomenon. Prices soar because money supply rises massively above real output. And giving away money has become THE ticket to winning votes.
And who benefits? People with BIG assets: stock prices rose +32% in 2019, +19% in 2020, 21% this year...(S&P)
I cannot think of a single thing our Gov't is doing to help the working, middle class. Every dollar spent goes to ASSET INFLATION, benefiting the already wealthy.
Posted by: Timothy Birdnow at
09:41 AM
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1
In simpler terms, but saying the same thing, inflation is the result of a greater increase in money (created by government) than the increase in the production of goods and services (by the economy). Inflation is never caused by anything other than government policy.
Posted by: Bill H at October 21, 2021 11:45 PM (/sW5m)
2
Amen Bill. Claims it is caused by the Pandemic or by supply chains is horse poo. It's caused by the money.
I was arguing with a guy on Facebook about this. He tried to say it was disrupted supply chains. I pointed out that if that were true the price of corn - a completely native product here in the U.S. - would not be skyrocketing along with everything else.
He conceded at that point.
I was arguing with a guy on Facebook about this. He tried to say it was disrupted supply chains. I pointed out that if that were true the price of corn - a completely native product here in the U.S. - would not be skyrocketing along with everything else.
He conceded at that point.
Posted by: Timothy Birdnow at October 22, 2021 08:10 AM (+UUDH)
3
A good one, Tim. Also, the price of gasoline and natural gas.
Posted by: Dana Mathewson at October 22, 2021 01:16 PM (djD2v)
4
Yep, although that can be laid to other Obiden policies as well (like banning drilling on public lands...)
Posted by: Timothy Birdnow at October 23, 2021 07:50 AM (chrEE)
5
Oh, yes! And all the enviro-wackos who fulminate against fracking.
Posted by: Dana Mathewson at October 23, 2021 09:16 PM (djD2v)
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