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Everything You Hear About Inflation is Bullsh*t
As with anything economic, the common narrative is backward and benefits corporations and the 1%
If we lose this debate right now, for the next several decades, they’re going to use this pandemic, and fuel the narrative that what caused the inflation of the pandemic was the spending on poor children. — Economist Fadhel Kaboub
Turn on the TV, open the newspaper, or check a website and all anyone is talking about is inflation. From Morning Joe’s brutally petty takes to the evening news, they all continue to pound the story about how the Biden administration spent too much money, overheated the economy, and now we need to cut back spending, tighten our belts, and get inflation under control.
It isn’t just in the US. The same narratives are thriving in Europe. I’ve had multiple conversations with bankers and professionals who blame the current inflation on too much government spending and the European Green Deal — it turns out Americans and Europeans are quite similar in some ways, eh?
For the last fifty years, the moment inflation is higher than two percent politicians and TV pundits on both sides of the Atlantic start screaming that the government overspent and now the peasants have too much money.
