This is a nitpick, but profligate spending cannot create inflation. If I have a million dollars, and I spend a million dollars, that doesn't create inflation. E

This is a nitpick, but profligate spending cannot create inflation. If I have a million dollars, and I spend a million dollars, that doesn't create inflation. Even if I spent the million dollars on stupid NFT cat gifs. I got the money from somewhere and I spent it, and sent it back out. No net inflation. The inflation comes from the printing and spending of new money.