Who caused inflation?

[mystery-ak]

March 28, 2022
Who caused inflation?
By Rick Hayes

It took some time, but President Biden finally admitted that inflation exists. That's not saying much, since a night out with the family or a simple glance at a grocery sales receipt would immediately confirm that.

The first question is who caused prices to climb and why?  One way to find out is to understand what causes inflation. A common understanding of inflation is that it results from too much money circulating in the economy.

The great economist Milton Friedman once stated that inflation is a dangerous disease for a society, and sometimes a fatal disease for a society.

In 1978, Friedman reminded those attending his lecture from the University of San Diego and the San Diego Chamber of Commerce to "Recognize that today governments control the quantity of money." Friedman emphasized that inflation in the United States is made in Washington and nowhere else.

Friedman could have been commenting on recent speeches given by President Biden, who blamed inflation on the greed of corporate America when he said, "If you listen to people in Washington talk, they will tell you that inflation is produced by greedy businessmen." Friedman, the recipient of the 1976 Nobel Memorial Prize in Economic Sciences, made that observation 44-years before Biden took the oath of office.

more
https://www.americanthinker.com/blog/2022/03/who_caused_inflation.html

[catfish1957]

Root Cause...

Day 1...   Biden kills XL pipeline,  Days 2-4 kill any and every incenentive for drilling for U.S producers.

The dominos starting falling from there.  Simple explanation.

[Kamaji]

Friedman added, "Business people don't produce inflation for the straightforward reason that they don't have a printing press in their basement.  And so can't turn out those green pieces of paper called money."

The reason everyday expenses for Americans have skyrocketed and will continue to soar is the shortsighted policies of the Biden administration, the sole architects of today's staggering inflation. They did this by printing money.

Yup.

[catfish1957]

Yup.

Poor fiscal policy like in the Carter years caused obvious pretty much a straight line 45 degree angular inflationary pressure.

Bidenflation?  These curves are more parabolic.  This time you have rapid deficit spending coupled with a dominoing disaster that was started with energy policy suicide.  That domino triggered a subequent tidal wave of cost increases. 

Want to know how bad this particular time is?  Back in the late 1970's the U.S. still had a decent sized industrial base.  Now that aspect is gone as far as helping us recover.

[rustynail]

The federal reserve.

[catfish1957]

The federal reserve.

The Fed is just the tool of the government.  Kind of like saying  just a gun killed a person. Anyone thinking they are "independent" hasn't paid attention for awhile.

[EdinVA]

Kudlow: 'We truly have too much money chasing too few goods'

Understand and agree on the printing of money but why do we have so few goods/services?
Even if the feds print excess money, as they have been for decades, the supply of goods and services kept inflation under "control"...

[DefiantMassRINO]

I blame Adam Smith.  We wouldn't have inflation if we based our economy upon the writings of Karl Marx.  America would be one large smurf village without toilet paper and a have turnip-based diet.

[catfish1957]

Understand and agree on the printing of money but why do we have so few goods/services?
Even if the feds print excess money, as they have been for decades, the supply of goods and services kept inflation under "control"...

Listening to Kudlow on the cable shows is kind of calming to me, hearing a voice of competence and reason.

Biden has surrounded himself with an economic team of reversed supply siders, and socialist toadies.  Be it elections, or revolution.....  Any government that has destroyed the economy of a country has gone down in a massively gone down in  flames, and in dramatic fashion.  It will be soon folks, how soon?......   TBD.

[DefiantMassRINO]

Who caused inflation ... NIMBYs ... everyone that's said "No" to energy and infrastructure projects.

Inflation is a tax that NIMBY elites impose upon working Americans.

[DB]

What caused inflation is real clear (M0 money supply):

[DB]

Note that the government started pumping large amounts of printed money into the economy in early 2020.

[Kamaji]

What caused inflation is real clear (M0 money supply):

Interesting to watch the peaks and troughs.  Can't wait to see what happens when Bidet's latest "budget" passes.

[Hoodat]

The federal reserve.

Ditto.

[Cyber Liberty]

I admit it, the truth can finally come out!  The butterfly wings of my Great Toilet Paper Hoarding in 20-21 brought the economy to its knees.