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I studied applied economics in college. It's actually how I got into professional programming, due to coding for simulations as part of my major. It is way, w
by JPKab 5y ago
I studied applied economics in college. It's actually how I got into professional programming, due to coding for simulations as part of my major.
It is way, way too early, based on my experience, to make any formal claims about why a given number is X instead of Y based on Z theory.
People who are claiming there is going to be runaway inflation don't have enough data to suggest this, and your assertion is equally lacking in data to justify it.
As always, economics gets contaminated by political biases, because so many prominent economists, including a hero of mine in college, Paul Krugman, have followed the profitable path of becoming full time political hacks. Likewise for Lafferty on the right and many others.
Inflationary pressures typically, in historical terms and yes, in the simulations I used to model, have a lag and then start to build upon each other. We haven't had nearly enough time to properly assess any of this.
Rest assured, if/when it does manifest, each side will have very firm talking points blaming the other, informing their sycophants exactly how to talk out of their rear ends about how it's the other team, and how their policies would have prevented it.