gil wrote: ↑Fri Oct 11, 2024 2:23 pm
2. Inflation was not limited to the US. The rate of inflation has gone down, in all the developed countries that experienced it. The causes were related to supply chain issues due to shutdowns and changing consumer purchasing patterns, labor shortages, and the the bounce back from the pandemic shutdowns. In the case of the US, there were government payments to individuals to stimulate spending - of course these were inflationary. (If I recall correctly, I received 2 checks when Trump was president and one check under Biden, but I might be wrong about this.) In short, I don't believe that Biden caused prices to go up in Germany or Great Britain.
Inflation happens because the slaves are forced to use fiat currency through legal tender laws. A nice men's suit could be purchased for an ounce of gold in 1925, and a nice men's suit can be purchased for an ounce of gold in 2025.