Large scale covid inflation was caused by FED printing too much money. This isn’t something Mamdani can fix he can only do band-aid solutions on top of the issue.
Large scale covid inflation was caused by FED printing too much money
Was it? Considering the inflation was global I figured it was more impacted by lack of supply and an increase in disposable income for those who were able to still work but not go anywhere.
Really? Actually I thought it was caused by retailers taking the opportunity to increase prices when everyone thought prices would increase due to covid.
Basically all central banks did the same thing. Lack of supply was an issue, but it was massively worsened by all additional spending. If you look at asset prices everything was going up, from stocks to bitcoin, not just consumption goods
While you are absolutely correct here I’m only commenting to say that nobody ever accepts that money supply is the main driver of inflation because there are a lot of factors that impact short term inflation and confuse the issue.
What makes it worse is the media loves to cite these short term fluctuations because they are convenient and click baity, but when central banks print money you get inflation, this is an absolute fact but everyone seems to love to ignore it or disregard it.
It’s so damn frustrating to see people do this over and over and over again.
Anyway sorry for the long winded comment basically just aggressively agreeing with you, I just needed to vent after I saw yet another person above try to disregard the truth yet again.
Large scale covid inflation was caused by FED printing too much money. This isn’t something Mamdani can fix he can only do band-aid solutions on top of the issue.
Was it? Considering the inflation was global I figured it was more impacted by lack of supply and an increase in disposable income for those who were able to still work but not go anywhere.
Really? Actually I thought it was caused by retailers taking the opportunity to increase prices when everyone thought prices would increase due to covid.
Basically all central banks did the same thing. Lack of supply was an issue, but it was massively worsened by all additional spending. If you look at asset prices everything was going up, from stocks to bitcoin, not just consumption goods
While you are absolutely correct here I’m only commenting to say that nobody ever accepts that money supply is the main driver of inflation because there are a lot of factors that impact short term inflation and confuse the issue.
What makes it worse is the media loves to cite these short term fluctuations because they are convenient and click baity, but when central banks print money you get inflation, this is an absolute fact but everyone seems to love to ignore it or disregard it.
It’s so damn frustrating to see people do this over and over and over again.
Anyway sorry for the long winded comment basically just aggressively agreeing with you, I just needed to vent after I saw yet another person above try to disregard the truth yet again.