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Re: Nothing Is Over: Inflation Is About To Come Back With A Vengeance 

By: micro in 6TH POPE | Recommend this post (1)
Wed, 09 Aug 23 1:45 PM | 26 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 44873 of 60008
(This msg. is a reply to 44872 by Decomposed)
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The above is a reply to the following message:
Re: Nothing Is Over: Inflation Is About To Come Back With A Vengeance
By: Decomposed in 6TH POPE
Wed, 09 Aug 23 11:09 AM 		Msg. 44872 of 60008

CTJ:

Re: “When the cost of energy goes up, the cost of EVERYTHING goes up. ”Inflation is an increase in money supply relative to national productivity. Price inflation is inflation's result.

In the case of the U.S., the situation is complicated by the dollar's status as World Reserve Currency. If dollars get mass produced but other nations opt to buy and hold those new dollars, the inevitable price inflation will be masked until the new dollars one day return to domestic circulation.

Back to what you said: When the cost of energy goes up, national productivity goes down. That's why higher energy prices cause prices of everything else to rise even when there's been no money printing. The Fed can counter that price inflation by shrinking the money supply, but it's loathe to do so. Lowering prices isn't the Fed's goal. The Fed's real purpose is MAXIMIZING INFLATION while minimizing inflation expectations. So its board members may do a lot of yammering about their willingness to raise rates, but the truth is that the more inflation we accept, the more wealth and power the Fed's owners and its partner organization, Congress, acquire. That's what it's really all about: Maximizing inflation while keeping the cattle - uh, I mean the voters - calm.

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