A reminder that the government is bullshitting you when they say that the recovering economy is driving inflation. But you knew that already. It’s just that this is so blatant it needs to be kept front and center as the obfuscation, half truths and non-truths continue.
Inflation came from this progression…
- Fed panics right where the Continuum said they’d panic, and bonds were manipulated and (funny) munny printed as if by magic (or MMT) as this macro indicator gave full license.
- Government (under Trump and Biden) says ‘thank you very much’ and shoves (pushes) the new munny into the economy. That is where the inflation and its now obvious effects came from. The economy is driven by it until one day it goes stag and screws up the economy. It’s pretty simple. So when the central planners talk like this you know that maybe politically biased members of the public may buy it, but you don’t.
Not that this disclaimer is necessarily needed, but you may know I shit all over Trump for 4 years, so this is not a politically motivated post. I am an equal opportunity critic of government policy when it is not being presented in a truthful manner.
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