>The amount of inflation is not especially high From a historical point of view sure. The thing about WW1 boomers retiring in the 80s and causing major inflati

>The amount of inflation is not especially high From a historical point of view sure. The thing about WW1 boomers retiring in the 80s and causing major inflation. Sure it was a huge problem. This time it's the WW2 boomers retiring that will cause major inflation. But that effect hasnt quite kicked in. The inflation stems from benefits and low rates. Which low rates can be just called benefits as well. > it would've been quite normal back in the 1980s (post Volcker, even). That's why the Fed is slow at addressing it. And of course, the global pandemic had much to do with it. So here we sit post-benefits. You and I can both agree people who couldn't work because of the pandemic shouldn't be left to starve. The consequence is extreme inflation, but worse. The USA has entered another recession. Nearby recessions means they are connected and therefore this is a depression. Which we can verify by the high correlation with psychological depression. What do you think, do you find more and more people around you are getting depressed? >In the latter part of your comment, you're talking about two versions of the same thing. Calling budget constraints 'MMT' does not change how they work. https://en.wikipedia.org/wiki/Balanced_budget_amendment https://en.wikipedia.org/wiki/Balanced_budget_amendment The countries like Germany and Switzerland that have implemented this are brilliant. Though to be fair countries which dont even need the amendment are that much smarter.