All you pointy-head PhD types and other academics now issuing mea culpas for ‘not understanding’ the #inflation dynamic: we warned you from the very off that more $$ + less supply + capital destruction/impairment would only NOT lead there if the QE/fiscal flood ...
1/5
1/5
..held perforce partly in abeyance, were later, upon cessation of ‘house arrest’, used to pay down debt & so self-extinguish itself.
If that unlikelihood did NOT eventuate - if Hyper-#QE were not terminated/reversed -how was the present bleak situation NOT to be foreseen??
2/5
If that unlikelihood did NOT eventuate - if Hyper-#QE were not terminated/reversed -how was the present bleak situation NOT to be foreseen??
2/5
As for the belated recognition that the disease has now metastasized to a wide range of raw inputs & production goods -increasingly to now-operative services as well as classic #inflation outlets- we were emphasising this well over a year ago while you were all “#transitory”
3/5
3/5
As for you appeasers & special-pleaders, bleating that hikes can not cure a supply-side problem, can you not see that elevated monetary demand makes the scarcity sharper, more widespread, longer lasting?
We are poorer than we were pre-#COVID19: real rates must reflect that! 4/5
We are poorer than we were pre-#COVID19: real rates must reflect that! 4/5
If you sit back and encourage further credit creation in order to maintain the illusion that more expensive goods can be bought in unchanged volumes, you are like shipwrecked sailors issuing invitations to a banquet served from the scanty, rescued supplies which washed ashore 5/5
@threadreaderapp please unroll
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