this post was submitted on 26 Aug 2024
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This meme is propaganda. The primary cause of inflation is out of control government spending. In the wise words of Milton Friedman, "Every budget is balanced... If you want to know the real government budget look at inflation."
The primary cause of inflation is a massive increase in the money supply
Sure. The 20% inflation since 2020 is why food prices have doubled.
During the last federal election on Nov. 3, 2020, food inflation was running at just 3.9% annually. Fast forward to March 2024, and the latest data shows food prices have risen a whopping 25.8% since then.
Money supply has gone from 15.5 to 21 = +35% over the same period
My understanding is that the government wants to reduce the value of the dollar so their massive debt has less value