That only makes sense when supply is inelastic, which is not a valid assumption, imo. No, it makes sense whenever supply is not perfectly elastic. And time sc

That only makes sense when supply is inelastic, which is not a valid assumption, imo. No, it makes sense whenever supply is not perfectly elastic. And time scales matter -- most supplies are inelastic over the short term but elastic over the long term, so "helicopter money" will tend to produce a short-term spike in prices due to more money chasing a limited supply, which then levels off at different rates depending on the goods as the supply catches up.