Source: WendyMcElroy.com
by MN Gordon
“Politicians like to pretend that the source of consumer price inflation is a great mystery. This is so they can divert the public’s attention away from their handiwork. In truth, it’s really very simple. Consumer price inflation starts and ends with deficit spending. Fed monetary policy merely accommodates the mega debts and deficits. If the federal government was really interested in whipping inflation now it would have balanced its budget long ago. But the government is not interested in balancing its budget. Instead, Congress pursues welfare and warfare spending while devaluing the dollar to pay for it.” (10/23/24)