"I can only speculate why the story is so popular." I'm going to try to speculate too. Inflation is the monster used to scare public opinion from public spend

"I can only speculate why the story is so popular." I'm going to try to speculate too. Inflation is the monster used to scare public opinion from public spending. Public spending is undesirable because two reason. First, it's redistributive: you are creating money and growing the economy but this grow goes mostly to everyone. Second, you are competing for labour with capital. That means labour becomes more scarce. More scarce labour means, expensive labour. Expensive labour is again redistributive. So, if this (speculative) view is true, the reason is not very original. In fact, it's the oldest history in the world since the start of the neolithic.