This guy is wrong. Whether he knows it or not, as unwitting dupe, or controlled opposition, he is pushing the Grand Illusion. Inflation was not a function of the American Rescue Plan, or any other spending bill. Inflation was a function of the M2 money supply.
It is simple Supply and Demand. If the money supply goes up, what we call "inflation" goes up; there is more money, thus the buying power of each dollar goes down. It's that simple. Because it takes a while for things to percolate a bit, it takes for about two years for inflation to adjust to fluctuations in money supply. This lag time helps feed the Illusion, but it is as regular as clockwork.
If you look at the graph (shown above), it shows without question that in Feb. 2020 the M2 money supply spiked faster than it had in modern history. The data gets a little difficult to show because of how these things work (real v. nominal data), but there has not been such a dramatic increase in M2 money supply since WWII.
The Fed determines inflation. All of our Policies are the theatre that lays on top of the actions of the Fed. If the Fed says "jump," public policy says "how high." It is all Theatre.
I'm not saying there is no interplay there. The Fed is more than happy to have their agents (called "politicians") give their pretense for the theatre. Then the Fed will create new money (debt) for the money laundering scheme that pretends to be "policy." But specifically in regards to the latest bout of inflation, the money printer went Brrr in Feb 2020. Most of the increase of money supply had already been starting to wind down by Jan. 2021, before the spending bill in question had happened.
The Fed is an autonomous agent (Sovereign entity). Because "money" uses Federal Reserve Notes, the US Government doesn't have the ability to determine the money supply. It is up to the Fed what happens. Anything else is Theatre.
Even though you’re right, Donald’s made the more devastating political argument. Unfortunately the majority of people would tune out if he tried to explain the Federal Reserve’s role in inflation.
Donald’s made the more devastating political argument
There is no such thing as a "political argument" that doesn't perpetuate the Illusion. I understand that it takes time and the use of even more illusion to counter brainwashing, but fit can be very frustrating to see the constant pushing of fakery.
There is a fragment of a quote rattling around in my head that says sometimes you can be completely right and still lose the argument.
Donald’s went into hostile territory in an attempt to persuade an audience who believes Harris and the Dems have power over their financial situation. He accepted their premise and showed them she used that power in a reckless way that hurt them in their lives.
We can disagree with his approach and conclusions, but his goal was to persuade people from that audience to give MAGA candidates a chance. Judging by the hosts reactions he was being persuasive.
You are both right. Thank you both for explaining the big picture as well as the immediacy of winning short term arguments a month out from filling in the dots.
This guy is wrong. Whether he knows it or not, as unwitting dupe, or controlled opposition, he is pushing the Grand Illusion. Inflation was not a function of the American Rescue Plan, or any other spending bill. Inflation was a function of the M2 money supply.
It is simple Supply and Demand. If the money supply goes up, what we call "inflation" goes up; there is more money, thus the buying power of each dollar goes down. It's that simple. Because it takes a while for things to percolate a bit, it takes for about two years for inflation to adjust to fluctuations in money supply. This lag time helps feed the Illusion, but it is as regular as clockwork.
If you look at the graph (shown above), it shows without question that in Feb. 2020 the M2 money supply spiked faster than it had in modern history. The data gets a little difficult to show because of how these things work (real v. nominal data), but there has not been such a dramatic increase in M2 money supply since WWII.
The Fed determines inflation. All of our Policies are the theatre that lays on top of the actions of the Fed. If the Fed says "jump," public policy says "how high." It is all Theatre.
I'm not saying there is no interplay there. The Fed is more than happy to have their agents (called "politicians") give their pretense for the theatre. Then the Fed will create new money (debt) for the money laundering scheme that pretends to be "policy." But specifically in regards to the latest bout of inflation, the money printer went Brrr in Feb 2020. Most of the increase of money supply had already been starting to wind down by Jan. 2021, before the spending bill in question had happened.
The Fed is an autonomous agent (Sovereign entity). Because "money" uses Federal Reserve Notes, the US Government doesn't have the ability to determine the money supply. It is up to the Fed what happens. Anything else is Theatre.
Even though you’re right, Donald’s made the more devastating political argument. Unfortunately the majority of people would tune out if he tried to explain the Federal Reserve’s role in inflation.
There is no such thing as a "political argument" that doesn't perpetuate the Illusion. I understand that it takes time and the use of even more illusion to counter brainwashing, but fit can be very frustrating to see the constant pushing of fakery.
There is a fragment of a quote rattling around in my head that says sometimes you can be completely right and still lose the argument.
Donald’s went into hostile territory in an attempt to persuade an audience who believes Harris and the Dems have power over their financial situation. He accepted their premise and showed them she used that power in a reckless way that hurt them in their lives.
We can disagree with his approach and conclusions, but his goal was to persuade people from that audience to give MAGA candidates a chance. Judging by the hosts reactions he was being persuasive.
You are both right. Thank you both for explaining the big picture as well as the immediacy of winning short term arguments a month out from filling in the dots.
u/#popcornclown