Bad Democrat policies… they own it…
The dotted line is Putin's invasion of Ukraine.
— Brad Polumbo 🇺🇸⚽️ 🏳️🌈 (@brad_polumbo) April 11, 2022
Oh, wait, it's not.
It's Biden's inauguration. pic.twitter.com/4JYsxGBqDd
Inflation is the one issue you can’t propagandize away.
— Cernovich (@Cernovich) April 11, 2022
Everyone sees it, everyone knows the lies.
The regime is forced to admit it, finally.
pic.twitter.com/17di3ZlVy6
10 comments:
Why did this not start in November 2020?
And could it be in any way related to the emergence of the vaccines?
Well you had the Trump stimmy Dec 27th 2020 then the Biden stimmy late Feb 2021 …
Unprecedented fiscal expansion and telling people not to go to work if they could anyway avoid it…
Unprecedented fiscal expansion into a supply shock = “inflation!” = textbook MMT 101
Unprecedented fiscal expansion into a supply shock = “inflation!” = textbook MMT 101
Just to be clear, when I wrote that inflation causes money printing and not the other way around, it means that's the way it usually happens. But money printing can also cause inflation, which is true for the above. The causality can run both ways.
In Zimbabwe, for example, it was the supply shock which pushed up prices and caused money printing, but then the government just kept on printing. They would have had inflation in any event, but the additional money printing made it worse. In that case, it wasn't an "either/or" but a "both/and".
IIRC, most hyperinflations (if not all) have resulted from printing money (often literally) to address a supply shock. Many of these supply shocks have resulting from an exogenous shock but not always. The Weimar inflation can be traced to policy imposed on post WWI Germany at Versailles. In Zimbabwe it was a result of poorly thought through policy decisions involving land reform that constrained supply. While such conditions can be address more successfully otherwise, e.g., price controls and rationing, they were addressed instead by increasing spending power, leading to a price spiral.
Now the supply shock is due to several major factors: 1) supply chains affected by the pandemic, an exogenous shock, which is happening in China again now as a result of policy decisions, 2) economic sanctions imposed unilaterally by the US and allies, which is partly exogenous and mostly policy-induced, and 3) energy supply constriction resulting from the switch to clean energy to address climate change, another exogenous shock, but which is chiefly policy-induced (and is now being reversed).
This has resulted in real constraints and political conditions that make it nearly impossible to navigate the ship of state through this storm without taking on water. Moreover, different countries addressing this shock based on national interest is making the international situation unstable, affecting other nations.
A fiscal increase is not “printing money!”…
“printing money!” is a figure of speech…
In December and January just ended we had a balanced budget.., ie deficit was zero…
If we have a fiscal balance would you Art Degree people still call that “printing money!”?
Wouldn’t you Art Degrees say we “didn’t print any money!” as the deficit was zero?
George Harrison wrote that his guitar was gently weeping but would you Art degrees guys say that included his work on the song Helter Skelter it doesn’t sound gentle or weepy?
How do you guys know when the figure of speech applies or when it doesn’t?
I’m putting George’s work on Helter Skelter as a no … but I’d defer to you guys.,,
"They're burning money!" could be a figure of speech that never caught on...
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