#deficit – Econophysics2020

Inflation Ahead? Or Is It Already Here?

Here is the M1 – the most liquid of all measures of the USD money stock. Note the growth during the Obama years following the Great Financial Crisis. Slowed a bit under Trump. But relentlessly grew faster than the economy. Until CoVid hit when the M1 exploded. Until November 2020 when the M1 went hypersonic.Continue reading “Inflation Ahead? Or Is It Already Here?”

Death of the Middle Class – Killed by Deficits, Stimulus, and the Monetary Politburo

My old professor, Murray Rothbard, explained the dynamics decades ago: “The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripplesContinue reading “Death of the Middle Class – Killed by Deficits, Stimulus, and the Monetary Politburo”