Are rising home prices “transitory”?
Posted: November 1, 2021Inflation described by George Gammon:
Inflation is here.
Just look at home prices.
Just look at your groceries.
Just look at gas prices.
Just look at your travel costs.
Just look at your healthcare costs.
The price of everything seems to be getting higher.
Even the corporate press is acknowledging that price increases are becoming freaking ubiquitous in the US economy.
But the Fourth Estate is assuring you that inflation is just “transitory” and that it’s not going to be a consistent theme of the next decade or so.
America’s current bout with inflation is the product of decades of flawed public policy that promotes easy money and the manipulation of interest rates to prop up politically-connected economic groups.
Notice how we said public policy.
You see, a lot of folks think economic hiccups like inflation just happen by coincidence.
Almost as if it were a natural part of economic life.
Wrong.
Just ask the great economist Ludwig von Mises.
In his seminal text, Economic Policy, he dropped a major truth about inflation that most people fail to grasp:
“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.”
Inflation is the result of public policy aka expansions in the money supply.
It’s not the result of vague terms such as “corruption.”
In fact, the very nature of monopolized central banking is corrupt to its core because of the state’s involvement in this very activity.
Also, for heaven’s sake, don’t listen to people who blame speculators, traders, and other people peacefully engaging in the market for inflation.
It’s the height of economic illiteracy to blame normal market activity for generating inflation.
The capitalist haters see giant mega-corporations running wild….
…but they don’t see the army of lobbyists these companies employ to pass regulations that price out their competitors.
These lobbyists also ensure that rent-seeking corporations are the first to receive the fiat bucks while the rest of us peons receive devalued money.
The latter privilege that rent-seeking corporations exploit contributes greatly to the rise of inflation.
However, the average American, who has received a thorough leftist indoctrination from Day One isn’t able to piece this together.
As a matter of fact, they will go as far as to blame capitalism for any economic downturn or reversal.
If the current system we live under is free-market capitalism, then the definition of this term changed in our sleep.
Inflation is a government-created disaster. That’s it.