Friedman is of course right, it's always a monetary problem. However, Biden is attacking the currency from both ends. He's simultaneously debasing the currency by printing more of it, dumping it on his friends in government - and he's restricting production of wealth which would soak up the inflation. By canceling leases and making natural resources off limits, making energy scarcer and harder to produce - he's pulling wealth out of the economy. This is how you get hyper inflation.
Absolutely. He could address the supply side by removing restrictions on gas and oil drilling, cutting tariffs, removing regulations (especially all the "green" stuff), intervening in the supply chain bottlenecks in such places as the Long Beach port (green and union rules have been slowing things for months), killing the Jones Act, letting pipelines be built... and at lower levels, easing up on zoning restrictions, new building rules and mandates, and all sorts of economic "drag."
But, he won't. Because Green is more important than America, and because spending money is the only thing the Dems seem to know how to do.
That was… Super duper!
Friedman is of course right, it's always a monetary problem. However, Biden is attacking the currency from both ends. He's simultaneously debasing the currency by printing more of it, dumping it on his friends in government - and he's restricting production of wealth which would soak up the inflation. By canceling leases and making natural resources off limits, making energy scarcer and harder to produce - he's pulling wealth out of the economy. This is how you get hyper inflation.
Absolutely. He could address the supply side by removing restrictions on gas and oil drilling, cutting tariffs, removing regulations (especially all the "green" stuff), intervening in the supply chain bottlenecks in such places as the Long Beach port (green and union rules have been slowing things for months), killing the Jones Act, letting pipelines be built... and at lower levels, easing up on zoning restrictions, new building rules and mandates, and all sorts of economic "drag."
But, he won't. Because Green is more important than America, and because spending money is the only thing the Dems seem to know how to do.