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LTC Kevin B.
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So you're quoting someone who died twenty years ago as somehow being proof of what's going on around the globe today? His old pontification is not proof of your assertion that US spending caused global inflation. Also, you don't seem to understand the difference between spending via debt (which is fiscal policy that is dictated by Congress and the Executive Branch) and an expanded money supply (which is monetary policy and is dictated by the Federal Reserve). They are not the same, and you are conflating the two. And, you're now shifting your talking point. You initially said that the Biden expenditures caused inflation, and now you're saying that it "feed inflation" (sic). Don't shift the ground; stay on topic.
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LTC David Brown
LTC David Brown
25 d
LTC Kevin B. - Greece was next on the highest inflation rate, it also had high deficits. https://cepr.org/voxeu/columns/pandemic-and-greeces-debt-day-after
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LTC Kevin B.
LTC Kevin B.
25 d
LTC David Brown - The inflation rates shown in that article are proof that inflation was a global problem, and the US was below the global average.
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LTC Kevin B.
LTC Kevin B.
25 d
LTC David Brown - The article about Greece doesn't say that deficit spending caused its inflation. It doesn't even posit a link. Why did you even include that? The House Budget Committee document is an unsourced, uncited political document. Moreover, many of the items mentioned in that report are Biden proposals, not actions that have actually taken place. If you can't see that, there's no hope in you understanding the issues you're attempting to articulate.
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SGT Whatever Needs Doing.
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You are correct LTC David Brown If you have 10 instruments worth some value, then print 10 more instruments against that same value, You then have 20 instruments that are each worth half of what the original 10 instrument were. I can't dumb it down any more that that.
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SGT Whatever Needs Doing.
SGT (Join to see)
25 d
10X = 20Y. Y is going to be smaller
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SFC Eric Harmon
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Inflation is too many dollars chasing too few goods. It really is that simple. Government spending drives inflation.
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SPC Kevin Ford
SPC Kevin Ford
25 d
Perhaps, but it is not quite that simple and you just explained part of the reason why. Yes, part of it is the money supply, the other part of it is the supply of goods and services and there is a final part you missed which is changing consumer demand for those goods and services.

Since this was a global phenomenon, was there an event that preceded the inflation that would have caused a worldwide drop in the supply of goods and services while also creating pent up consumer demand where consumers were not spending money and therefore had "extra" to spend when they were feely able to spend again? The obvious answer is yes there was such a global event. I think we all know what it was.
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MSG Stan Hutchison
MSG Stan Hutchison
25 d
SPC Kevin Ford - And let us not forget one of the precursors to our inflation:
23 Oct 2021
"As of Tuesday morning there were 62 container ships anchored off the coast of southern California — 37 of them destined for the Port of LA and the other 25 destined for Long Beach. The 62 ships contain the equivalent of about 200,000 20-foot containers. Overall there were a record 100 cargo vessels — including barges, tankers, car carriers and ships that carry bulk goods — anchored just outside the ports as of Monday."

https://www.cnn.com/2021/10/20/business/la-long-beach-port-congestion-problem-national-impact/index.html
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LTC David Brown
LTC David Brown
25 d
If you continue looking at countries Greece was next, Greece also had high deficit spending. https://cepr.org/voxeu/columns/pandemic-and-greeces-debt-day-after
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SFC Eric Harmon
SFC Eric Harmon
25 d
SPC Kevin Ford - Sometimes you have to reduce it to the simplest explanation for those that are challenged by economics.
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