Millions are now suffering with high inflation and high life cost which makes life more difficuilt, who blames?,and how we face all these treated?
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters. The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
Continued inflation inevitably leads to catastrophe.
Ludwig von Mises (2013). “The Theory of Money and Credit”, Skyhorse Publishing, Inc.
Stephen I. Ternyik
Yes. Additionally, inflation is a way to repudiate debt which irresponsible rulers like to incur. But that incurs more deb which creates a difficult to stop cycle. Soon, the smart people adjust for inflation before it manifests. Then comes stagflation. One politically, short term benefit of inflation is it usually comes with higher employment - Such is Keynesian thought. But Keynesian thought doesn't suggest stagflation - inflation without higher employment.
Nature's response is to cause a repudiation of debt - either thru inflation or by immediate repudiation. The immediate repudiation is the cause of the catastrophe. The catastrophe seems inevitable now. So, a society/nation can plan for the downturn and survive (but damaged). Or, not plan and collapse.
The plan: If the trend cycle is to continue until forced repudiation, use the available extra printed fiat currency to buy infrastructure (roads, power grids, arms, etc.)or stockpile resources from foreign nations which will help after the catastrophe. But paying social programs, welfare and supporting the weak organizations are NOT infrastructure. I think both political parties in the US recognize the collapse is coming and are trying to spend accordingly. Their goal is to not be the ones blamed (or at least be able to blame the other- we'll see this posture soon).
So, the problem is the political system rewards leadership behavior that is inconsistent with the health of the nation. Perhaps, a redo of the structure may be the result of the collapse.
Sustained inflation undermines the economy and the well-being of the people, politicians in order to cling to power carry out uncontrolled emission as the elections approach and then comes the time of disaster or austerity that will be led by themselves, or those who succeed him
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