The monetary chickens come home to roost

Washington Examiner/Bruce Yandle/1-18-2022

image showing the blur of high speed money printing press running at full tilt

“This data should put to rest any suggestion that inflation was beginning to wither away. What consumers in grocery stores and filling stations have known for months, politicians must now grudgingly admit: The cost of living is going up and far faster than average wage increases will cover.”

USAGOLD note: Yandle, a professor of economics and former executive director of the Federal Trade Commission, says it took about a year for the pandemic-induced money printing binge to show up in prices. “[W]hen confronted with evidence of rising prices,” says Yandle, “there was more than just a tendency for political leaders to lay the blame on OPEC, China, or greedy capitalists. Their own culpability with the monetary printing presses didn’t come up much.”

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