Lol... people are waking up. They're seeing in real time how the feds manipulate the numbers and the news to convince you your direct experience of the economy is wrong. It's DS sorcery at its finest.
This is what you learn in advanced macro. People's expectations of inflation lead to it, because your expectation of future purchasing power = willingness to hold cash balances. When that goes down money velocity goes up = > inflation increases, potentially leading to hyperinflation if all confidence in the currency is lost.
Or in as a central banker put it "When it gets serious, that's when you have to lie"
Lol... people are waking up. They're seeing in real time how the feds manipulate the numbers and the news to convince you your direct experience of the economy is wrong. It's DS sorcery at its finest.
This is what you learn in advanced macro. People's expectations of inflation lead to it, because your expectation of future purchasing power = willingness to hold cash balances. When that goes down money velocity goes up = > inflation increases, potentially leading to hyperinflation if all confidence in the currency is lost.
Or in as a central banker put it "When it gets serious, that's when you have to lie"