Summers is correct here but this is not monetarism it’s textbook MMT 101, ie too much fiscal and not enough real causes inflation… March net spending of an unprecedented $985B IN ONE MONTH (October just ended $500B) and several subsequent extreme months has caused the current “inflation!”…
It's priceless to see the look on a CNN anchors face when they are exposed to the truth... like a vampire in the sunlight 😂https://t.co/knqgSoCDOK
— Bongino Report (@BonginoReport) November 12, 2021
5 comments:
too much fiscal and not enough real causes inflation…
In the last two years the price of a can o sardines:
1.49
1.79
1.99
2.19 (current)
Too much fiscal, not enough real? Well, if by "real" you mean not enough fish,then sure.
Greek olive oil prices up substantially. Interesting since the stock on supermarkets shelves is still last year's crop. (Don't get me started on bubblegum inflation.)
Really not complicated: too many people on a planet of finite resources. All I can say is thank goodness that climate change is a "Chinese hoax" because if you think we got inflation now, just wait :(
Brunswick sardines 1.67 at Walmart in Nova Scotia. Up from 1.47
Peter Pan -- 1.67 Canadian, eh!
Nice summary from Statistics Canada's labour force survey for October -- NS's unemployment rate is still at 8.3%, but lots of folk are moving from part-time to full-time employment (seasonal effect of fisheries?).
https://www150.statcan.gc.ca/n1/daily-quotidien/211105/t003a-eng.htm
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