I hate inflation, but there’s something delicious about the fact that this problem, above all others, is responsible for the low esteem in which voters currently hold Joe Biden and his party.
Inflation is reality’s “F-you” to a central element of liberal hubris — the view that the government can do whatever the hell it wants by way of spending, energy policy, etc. and suffer no bad economic consequences. …
A related form is the view that vigorous government action can solve nearly all of our most pressing problems. There are things the government — and especially the Fed — can do to bring the cost of living down significantly, but rarely, I believe, in the short term. And some of Joe Biden’s key initiatives, including “Build Back Better,” seem bound to increase inflationary pressure.
Yep. Bureaucrats and their allies in the banking industry can create infinite money, but eventually it fails to persuade and motivate.
Bureaucrats can mis-measure inflation using their CPI tricks, but it becomes obvious in time. We are entering that time now.
Bureaucrats have been pushing down the price of gold since the mid 1990s by rorting the commodity exchange in New York, where it’s price is set. When that scheme busts, as it inevitably will, there will be a lot of catching up to do.