I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault (by trying to tell consumers to pay less for goods), and now we've learned the lesson that monetary policy is shaped by interest/money injection and controlling government spending and debt.
Even though we know this, and economics 102 still teaches this, somehow now it's popular to believe that inflation is caused by "corporate greed" because somehow, corporations decided July 2021 was the day to start being 8% more greedy.
They know, and the fact that inflation is meant to stay at a "steady" 2% instead of 0% means they want to drain people's money. It's just in the past they did it slowly and now they are accelerating.
Money should be whatever the market can bear and its consumers use it for. To be Money, it must first be a means of exchange, this is true, but after that, many other secondary and derivative use cases can be established.
Money slightly losing value year-on-year is by design. Prior to this, in the gold standard, money gained value if you did nothing but horde it. Because of this, people didn't invest it, and there was economic stagnation any time gold's value rose.
With MMT, the slight loss of value in money means that people are incentivized to invest it or they'll lose 2% each year. The spur in investment and rise of MMT is one of the reasons the USA is the richest country in the world.
"Stagnation" as described by State priests ("economists"). If you always look only at "activity"/GDP and ignore saving and long-term investments everything is stagnation if you want it to be.
Oh, it's worse than that. Even OP's title shows the problem. Inflation isn't even increasing prices. Inflation causes increasing prices. Inflation is just the increasing of the money supply.
Most people take it for granted that deflation is inherently evil and catastrophic. No, deflation only feels bad because it means the racket contracts and the parasitism gets destroyed. Same reason they say "there must always be zero unemployment" and that "businesses firing people is always bad". Downsizing has done wonders for twitter. Unemployment being at zero means there is a major labor shortfall in every industry. Deflation is the necessary correction to the money supply that will help us heal the economy.
It's like saying "Getting off crack is terrible, look at what withdraw does to you!"
I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault
If prices rose because corps are greedy (which they are), how come they didn't raise prices before Biden took office? And when prices fall, does that mean corps are benevolent?
Even though we know this, and economics 102
Why not 101? Because that's micro-economics and 102 is macro-economics?
Yes, microeconomics doesn't cover inflation it just deals with consumers, competition and supply & demand - macro covers the effects of monetary policy, minimum wage and labour values and global trade.
We printed our way out of the last recession and followed it with 8 years of the slowest economic growth in modern history. The pandemic and our attempt to print out of it with the same economic policies as before only had one outcome.
Apparently, there are enough credulous fools throughout the world who want to keep the US dollar as an asset for the US printing press to create less inflation than ours in Europe.
Milkshake Theory: The Americans burning Europe alive to prop-up the petro-dollar system. All while we continue to outsource most of our economies to China. Also, China is making in-roads to Saudi Arabia so that the petrodollar system can die.
Then at the moment of deepest crisis, the whole western economy collapses, taking the US dollar with it, and all our enemies will have fled the now empty cities having stolen every single thing that was bolted down like the Wehrmacht in Greece.
I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault (by trying to tell consumers to pay less for goods), and now we've learned the lesson that monetary policy is shaped by interest/money injection and controlling government spending and debt.
Even though we know this, and economics 102 still teaches this, somehow now it's popular to believe that inflation is caused by "corporate greed" because somehow, corporations decided July 2021 was the day to start being 8% more greedy.
They know, and the fact that inflation is meant to stay at a "steady" 2% instead of 0% means they want to drain people's money. It's just in the past they did it slowly and now they are accelerating.
Money should be a means of exchange, and not an asset.
Money should be whatever the market can bear and its consumers use it for. To be Money, it must first be a means of exchange, this is true, but after that, many other secondary and derivative use cases can be established.
Money slightly losing value year-on-year is by design. Prior to this, in the gold standard, money gained value if you did nothing but horde it. Because of this, people didn't invest it, and there was economic stagnation any time gold's value rose.
With MMT, the slight loss of value in money means that people are incentivized to invest it or they'll lose 2% each year. The spur in investment and rise of MMT is one of the reasons the USA is the richest country in the world.
"Stagnation" as described by State priests ("economists"). If you always look only at "activity"/GDP and ignore saving and long-term investments everything is stagnation if you want it to be.
Oh, it's worse than that. Even OP's title shows the problem. Inflation isn't even increasing prices. Inflation causes increasing prices. Inflation is just the increasing of the money supply.
Most people take it for granted that deflation is inherently evil and catastrophic. No, deflation only feels bad because it means the racket contracts and the parasitism gets destroyed. Same reason they say "there must always be zero unemployment" and that "businesses firing people is always bad". Downsizing has done wonders for twitter. Unemployment being at zero means there is a major labor shortfall in every industry. Deflation is the necessary correction to the money supply that will help us heal the economy.
It's like saying "Getting off crack is terrible, look at what withdraw does to you!"
If prices rose because corps are greedy (which they are), how come they didn't raise prices before Biden took office? And when prices fall, does that mean corps are benevolent?
Why not 101? Because that's micro-economics and 102 is macro-economics?
Sample size of 1 says yes.
Yes, microeconomics doesn't cover inflation it just deals with consumers, competition and supply & demand - macro covers the effects of monetary policy, minimum wage and labour values and global trade.
Word has gone out in my extended family (~200 people) that we're agreeing not to buy Christmas gifts except for kids (<= 12ish) this year.
Which is fine by me.
Wait, normally you bought presents for 200 people?
DOLLAR GENERAL, BABY!
LET'S GOOOOO!
Look at mister big spender over here! Too fancy to do Christmas at the 99 Cent Store?
Comsooomer culture has been floating face down in a pool of its own piss for a while.
Nice to have numbers reflecting that.
Prices rose 7.1 percent. If inflation rose 7.1 percent, then it would be 7.1 percent higher than what it was before.
My apologies, I was trying to make the headline simple and screwed up.
We printed our way out of the last recession and followed it with 8 years of the slowest economic growth in modern history. The pandemic and our attempt to print out of it with the same economic policies as before only had one outcome.
Bro, it's totally not a recession bro!
We're totally in a strong economy bro! Unemployment's super low bro!
HELLO, IT NOT RECESSHUN! GOOD NITE!
Apparently, there are enough credulous fools throughout the world who want to keep the US dollar as an asset for the US printing press to create less inflation than ours in Europe.
Milkshake Theory: The Americans burning Europe alive to prop-up the petro-dollar system. All while we continue to outsource most of our economies to China. Also, China is making in-roads to Saudi Arabia so that the petrodollar system can die.
Then at the moment of deepest crisis, the whole western economy collapses, taking the US dollar with it, and all our enemies will have fled the now empty cities having stolen every single thing that was bolted down like the Wehrmacht in Greece.
And still, without them, we'll be better off.
There are enough grifter nations in the world that don’t want to see the steady flow of American dollars come to a halt.