Vintage Friedman on inflation

For as long as any of us has been alive the U.S. government has been getting along on deficit spending. It takes about 18 months for a jump in the money supply to appear as inflation. What we are experiencing now is the result of the trillions of dollars printed at the end of the Trump Administration. Congress’ eagerness to spend more and more did not abate when President Trump move to Mar al Lago, it got worse. Inflation is going to be a fact of life for about two years after Congress stops spending like a drunken sailor.

Which is unfair to sailors. Having been a drunken sailor I can tell you as an undeniable fact that once the money runs out the sailor stops spending and gets sober.  Besides, I was spending my own money.

 

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