Regarding inflation, I think what you're saying might be completely right if we're living in a 100% capacity/productive/efficient economy. But often times there

Regarding inflation, I think what you're saying might be completely right if we're living in a 100% capacity/productive/efficient economy. But often times there is un-employment or under-employment, so printing money in all those scenarios may not actually take 'stuff' away from consumers, but actually help coordinate production to create more stuff where there was none. So let's say the economy is actually doing well but a war breaks out and the government needs to pay for it. In that case lets say for whatever reason, taxes can't cover it, so the government prints money, but to keep prices under control it needs to suck out a certain amount of cash out of the economy, so it can either increase taxes or issue an emotional appeal for consumers to purchase war bonds. But to your point, in war time economy there can definitely be shortages of consumer goods and an upward pressure on prices. Again I'm a total novice so I'm curious what I might be missing.