How to end inflation? Forty years ago we had a chance. Not much of one, but a chance.
Inflation has nothing to do with Putin or Ukraine. Inflation is caused by an increase in the supply of money. If you increase the cost of oil it does not cause inflation, it just means that you can make more money now selling oil so more people will try to sell oil and take advantage of the high demand. It also means that people who used to use oil for vacations will find something else to do and/or give up something they used to buy to afford the oil. A perfect example is had in everyday life. Most of us do not eat Filet Minion because we can’t afford it, we do however eat. Some people eat Sirloin, some pork chops and some hot dogs and hamburger but we all eat.
When the government prints fake money it gets to spend the money at the current value of money in the market, when the money gets into the market everybody, or at least nearly everybody has more money chasing the same amount of goods and services so the people producing have to charge more to be able to compete with others trying to purchase the raw materials and labor they need to make or sell whatever they sell and voila, inflation. The government does well because it can now award huge contracts to their supporters but people on fixed incomes are in trouble, they have no way to compete so they buy cat food. This deficit spending is sinful.