2 ms·
This take is the equivalent of taking a snowball into the halls of congress to refute climate change. We're in the midst of a global pandemic that's had dramati
by the_gastropod 5y ago
This take is the equivalent of taking a snowball into the halls of congress to refute climate change. We're in the midst of a global pandemic that's had dramatic impacts on international supply chains. Of course prices are volatile.
To use this as evidence of the general "LOL PRINTER GO BRRR, SO INFLATION" argument—that, frankly, is a conspiracy theory popular today because of everyone's sudden infatuation with Austrian economics via Bitcoin obsession—is kinda myopic and missing the point.
- willcipriano 5y agoMy thesis is simple and has remained unchanged since early 2020 when the printing began. Creation of additional currency without the creation of additional demand reduces its value relative to other goods. To your point, a global economic shutdown would to my mind reduce demand for currency, therefore the creation of money in the past few years will cause inflation particularly as velocity picks back up[0]. I could be wrong, but that's a conspiracy theory? Like bigfoot or the moon landing? Come on. Your ideas can't be that fragile to have to resort to name calling like that. [0]https://fred.stlouisfed.org/series/M2V https://fred.stlouisfed.org/series/M2V