Except that median income is now actually dirt poor. Inflation is absolutely the fault of government spending and fiat printing.
Here is an amazing article to back up my point. Look at these house prices... Who is gonna buy them??? Not the young generation. I can't wait for everything to collapse. There is no point in young or poor people to even begin to want to cooperate in this economy. First we need a total collapse, and then let's see who is willing to work hard.
That's fair, and I'm no expert here, but it's perhaps hidden in other ways. They say that we have been exporting our inflation to China and other places that buy our treasuries. Maybe once this slowed down, since China did slow purchases and are in fact net selling, this is when the inflation became more apparent.
Correct. Just read about the history of money and this will be crystal clear.
Don't you mean it is a sign of government printing? I'm with Milton Friedman. Inflation is a monetary phenomenon
Through the trade deficits. We got stuff made cheap, and everyone else got dollars that just inflate away. So the theory now goes that once other countries stop buying our debt, and that is already happening if you look at the charts of who is buying it now, its mostly our banks and retail, then we have to deal with our own inflation. I've seen in many of my bitcoin podcasts that this is what has kept the US afloat for decades.... exporting our debt which hit many countries already but not us... till now.
From what I've seen, that was our chance to fix it. It could have collapsed without all that intervention, but we would have been better off if it did. But at the time, there wasn't much else to go to.
