Is there any doubt that when we look back in time, everyone will agree that the post-pandemic rise and fall in inflation was a widespread, global phenomenon that had little to do with country-specific explanations?
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I mean in a globalised world won't this increasingly be the case? But nonetheless, I think the peaks of these curves were too divergent to ignore, don't you think?
Arguably, all countries on the list are either tied economically or tend to mimic their responses. It would be instructive to also look at less correlated economies, such as Saudi Arabia, Japan, or China to confirm that the phenomenon was truly global
No, a large number of people will still claim that inflation stayed high and it was all Biden's fault and that we need to cut corporate and rich-people taxes to fix it like Their Hero did.
And it certainly had nothing to do with Russian/Saudi oil price games!
chip shortage, ukraine invasion fucked major ag production and ag related exports, jit global supply chains fucked up and difficult to get working agsinn
I had a conversation recently with someone who still believes the 2007 worldwide financial meltdown was caused by US CRA banks which were forced to make loans to unqualified borrowers.
I'm sure post-pandemic inflation will be different, though.
Well yes, but wouldn't it be also wrong to just stick it to corona? Central banks did print an unimaginable amount of money in the past 10.. 20 years. It is like a textbook example of inflation. The whole Corona thing just came on top of that.
If you deny the connection from high supply of money and inflation you basically question one of the most basic theories the really no one questions. Inflation would have come one day or another unless you want to find a new theory about the money supply.
Because all the corporations saw their chance and took it. All the roch people in the world know and talk to each other so they can keep their strangle hold on all of us.
Business owners got greedy and raised prices far above any increased costs, because everybody else was. It caused inflation that then made price increases necessary. R's strive to hurt the economy so they can blame it on D's, then take power, cut the social net, and cut taxes to pay for it. Repeat.
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The bad news is this is now permanent.
And it certainly had nothing to do with Russian/Saudi oil price games!
PS Russia Ukraine war than heavily amplified the effect
https://www.bis.org/publ/bisbull48.htm
I'm sure post-pandemic inflation will be different, though.