Reply to Can someone explain to me why we have such high inflation now?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of these answers aren't contextualizing it in the fact that there is high global inflation. The US is in line with what everyone is experiencing so tying it just to US policies doesn't make sense.[/quote]

+100

Anybody who cites CAA, CARES Act, PPP loans, etc, as a reason for inflation in the United States is a partisan hack, woefully underinformed, or both. CAA, CARES, PPP et al are making inflation in the United States run marginally hotter, but they're not the proximate cause. Countries that were stingier with fiscal and monetary stimulus are still experiencing decades-high inflation rates; the UK, for instance, spent about half as much on fiscal stimulus relative to GDP as we did, and yet their inflation rate is higher than ours.

The current state of global inflation is disproportionately caused by supply-side issues; the well-publicized supply chain woes, disruptions in the energy market, etc.[/quote]

Oh, shut up. This is the most partisan post of all time. You clearly didn't even read the lastest CPI report.

Anyone who thinks trillions of dollars that got pumped into the economy, zero percent interest rates, and quantitative easing aren't the root cause of inflation doesn't live on planet Earth. The lastest CPI report blows up your entire narrative and clearly shows inflation is being demand driven.  Inflation in the US started rocketing well before Russia invaded the Ukraine.  The excuse that inflation is global is handwaving garbage in an attempt to salvage something from this current disaster and to deflect. Europe's problems, believe it or not, are different than the US'.  CAA, CARES, PPP.....it all is contributing to inflation. It's not even debatable.  Trillions of dollars in handouts and no consequences?  Laughable.

Someone needs to stop drinking the MMT Kool aid.  This experiment clearly blows up the entire narrative that the govt can spend and create money willy nilly with no consequences..[/quote]

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