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Reply to "U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years"
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[quote=Anonymous][quote=Anonymous]How did the fed balance sheet cause inflation in Europe and Canada? Any of you Economic savants care to explain this?[/quote] Can't speak to Canada but in Europe there is inflation but it is also smaller than in the US. It's not quite as severe. It may be that the European countries didn't spend as much either. As for Canada, I imagine if there's inflation in the US it's hard for the Canadians to avoid it. We were always going to have some inflation following 2020 but the inflationary pressures really started taking off after Biden passed his 1.9 trillion stimulus package, which was the third major stimulus package. This was the package Summers warned against as being both unnecessary and inflationary. You can track inflation acceleration to March 2021, the month the Biden act was passed. Prior to that it had been present but on a lower and more steady level. [/quote]
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