Here’s an interesting thought experiment: let’s say you work hard your whole life, you pile up a million dollars in cash, which you hope to retire on. However,

Here’s an interesting thought experiment: let’s say you work hard your whole life, you pile up a million dollars in cash, which you hope to retire on. However, tragedy strikes and your pile of cash catches fire and it all burns. But, your government is very accommodating, and they don’t worry- we know you really saved it, we’ll just print you some more. But in that case, why store it at all? Why not save the money you spent storing it, burn it now and get some printed later? What if the whole economy does that? What is the actual value of stored wealth? And does it make any sense for the government to have a “social security trust fund”? (No! It’s meaningless. Might as well just print the money later) Well, you hope to exchange it for goods and services. Goods and services performed and created by your children. So you’re laying claim to their labor. But what if there aren’t enough of them or they don’t really like this deal? What happens then? Well, we know really- the answer is inflation. Too many dollars chasing too little labor power. That’s why blaming inflation on Biden is absurdly silly. It’s a demographic effect that we’ve known was coming for decades. It’s not a surprise.