It seems the debate is one or the other. That is not how things work.
We will have and are having inflation of essentials. There will be deflations of non essentials. Money is looking for a place to land right now.
We will have and are having inflation of essentials. There will be deflations of non essentials. Money is looking for a place to land right now.
One thin I liked about Elizabeth Warren was her speech about real inflation and how people were being crushed by it, even though it “technically” didn’t exist. ONe of the areas of inflation that is absolutely killing people is the increase in taxes.
I am not using the word inflation according to its correct definition (increase in money supply) but rather as a description of people’s money getting them less stuff.