"It is the classic fallacy of our time that a moron run through a university and decorated with a Ph.D. will thereby cease to be a moron." ~ H. L. Mencken
Mostly agree - inflation is an oversupply of money. But I don't think you're completely right about price increases. Many of our biggest industries are dominated by oligopolies now. The internet ad business, health care, Big Food, Big Pharma, Big Rail, consumer goods (WalMart, Amazon). The list goes on. Aided by leniency toward corporate bankruptcy, mergers and acquisitions that allow private equity to "roll up" entire industry sectors, and weak antitrust enforcement. To his credit, the Biden administration has shored up the Federal Trade Commission for the first time in decades and Lina Khan is doing a commendable job. Capitalism with true competition has been gone for quite awhile now.
"It is the classic fallacy of our time that a moron run through a university and decorated with a Ph.D. will thereby cease to be a moron." ~ H. L. Mencken
“The truth has no defense against a fool determined to believe a lie.” Mark Twain
The Keynesians morons. Another failed concept produced by the college elites.
Forward Guidance just did a good podcast with Michael Howell discussing monetary inflation.
Mostly agree - inflation is an oversupply of money. But I don't think you're completely right about price increases. Many of our biggest industries are dominated by oligopolies now. The internet ad business, health care, Big Food, Big Pharma, Big Rail, consumer goods (WalMart, Amazon). The list goes on. Aided by leniency toward corporate bankruptcy, mergers and acquisitions that allow private equity to "roll up" entire industry sectors, and weak antitrust enforcement. To his credit, the Biden administration has shored up the Federal Trade Commission for the first time in decades and Lina Khan is doing a commendable job. Capitalism with true competition has been gone for quite awhile now.
exactly right