69b9 on Nostr: few understand the difference between inflation (monetary expansion) and asset ...
few understand the difference between inflation (monetary expansion) and asset inflation (prices go up).
The cynic in me thinks keynsian pundits intentionally conflate the two to confuse the public.
On this Elon/Trump talk, Trump just said “we would have no inflation” if not for Biden. This is false.
I think it’s important to clarify that there *was* massive inflation during Trump’s administration.
From January 2017 to January 2021, the M2 money supply increased from ~$13.3 trillion to ~$19.4 trillion by January 2021.
That’s an INFLATION of ~$6.1 trillion, or ~45%.
There is a LAG between monetary inflation and general price increases throughout the economy, and price increases do not happen uniformly (look up the Cantillon Effect).
To clarify for the partisans out there: this is NOT an attempt to make excuses for Biden or to say that the monetary and fiscal policies under Biden are good; they are not good.
The point is that it is false to say “there was no inflation” under Trump.
Monetary inflation *is* inflation. 
Published at
2024-08-14 02:02:02Event JSON
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