sj_zero on Nostr: 8 of 17. Inflation Inflation was always going to be the outcome of the response to ...
8 of 17. Inflation
Inflation was always going to be the outcome of the response to COVID. I predicted as such in June of 2020. How could I possibly predict such a thing when nobody else was? I remembered first year economics: If you cut off supply by fiat and increase the money supply, prices will increase. Normally markets will adjust by bringing new production online, but the production was shut down by fiat, and so prices will rise without any real feedback.
According to the CPI, prices for the average person have gone up 20% over the past few years. That fails to account for the fact that food, energy, vehicles, and shelter have been rising faster and for an increasing number of people have been priced out of having one or several of those key things. Cities that used to be beautiful and prosperous have growing tent cities of people who used to be doing ok but have fallen off the treadmil.
Inflation is likely a key piece of this election, and it's one of many things the media has to lie about in order to try to get their preferred candidate elected. When people feel existential terror because they can see they might have to choose between different things on the bottom of maslow's hierarchy of needs, you can't tell people they're actually fine. "don't worry! Lots of people have to pick between food and shelter and heat when they're rich!"
Inflation was always going to be the outcome of the response to COVID. I predicted as such in June of 2020. How could I possibly predict such a thing when nobody else was? I remembered first year economics: If you cut off supply by fiat and increase the money supply, prices will increase. Normally markets will adjust by bringing new production online, but the production was shut down by fiat, and so prices will rise without any real feedback.
According to the CPI, prices for the average person have gone up 20% over the past few years. That fails to account for the fact that food, energy, vehicles, and shelter have been rising faster and for an increasing number of people have been priced out of having one or several of those key things. Cities that used to be beautiful and prosperous have growing tent cities of people who used to be doing ok but have fallen off the treadmil.
Inflation is likely a key piece of this election, and it's one of many things the media has to lie about in order to try to get their preferred candidate elected. When people feel existential terror because they can see they might have to choose between different things on the bottom of maslow's hierarchy of needs, you can't tell people they're actually fine. "don't worry! Lots of people have to pick between food and shelter and heat when they're rich!"