We call the creation of money out of thin air inflating. The spiraling price consequences we call inflation. This debasement of our money’s purchasing power makes our living costs higher. Inflation reduces our standard of living. That’s one strike against it.
We call it easy money, loose money, helicopter money or quantitative easing. It’s responsible for low savings, excess debt, speculation, gambling, and overconsumption. That’s two strikes against it.
Inflation and socialism are joined at the hip. Newly created money pays the government’s bills. It covers the welfare checks and the subsidies that have fostered dependency and misbehavior. Inflating has funded the stupendous breakdown of the family unit, encouraged illegitimacy, bad parenting and the coarsening of our culture. That’s strike three.
When you hear our monetary authorities endorse permanent levels of inflation, you know we are in trouble. No one has ever considered inflation to be a good policy until today. It’s a liberal thing brought to you by the Keynesians at the Federal Reserve. The history of inflation through the ages offers a clear lesson that nations that inflate will eventually suffer grave consequences.