patrick.net

Patrick says

https://www.thegatewaypundit.com/2022/03/tax-dollars-work-ukrainian-officials-keep-getting-caught-fleeing-country-suitcases-full-cash-euros/?source=patrick.net

Offshoring.
End of globalization means higher prices. In US you have to treat workers better which is expensive.

Before WWII, middle- to lower-middle class families would spend about 50% of gross income on food, followed by about 25% for housing.

After the near communist takeover of the US during the great depression, the gub'ment decided never again to permit mass hunger in the U.S. Now we have bellies full of junk food, but no children are crying from hunger.

Until recently (2015), we had the inverse: housing about 50%, food under 25%.

With this inflation, both in rents and food, things are going to come to a very ugly head. I'm looking forward to it. As the slave-fucking founder Jefferson said, "The tree of liberty must periodically be refreshed by the blood of patriots and tyrants."

DooDahMan says

the biggest factors influencing inflation are outside of the Fed’s control

Are they not the people that print all the unbacked money?

Interesting insight: Inflations is nothing other than the transfer of wealth from one person to another. OK, maybe from one group to another group.

https://www.unqualified-reservations.org/2008/06/olx-simple-sovereign-bankruptcy/?source=patrick.net

Thus, if there are one trillion dollars in the world, and we accept the (dubious) assumption that if you own all the dollars you own the Federal Reserve, each dollar is a right to one trillionth of the Federal Reserve. Perhaps this is obvious, but it implies some corollaries.

One, creating new dollars does not affect the value of the Federal Reserve, however we choose to measure that value. Nor does it affect the value of Elbonia, Yukos, or any other right. It is common or garden-variety stock dilution. Dilution is often more convenient than transferring shares from old owners to new owners, but the principle is the same. If there exist one trillion dollars and we print ten billion new ones and give them to X, the effect is just as if we replaced each dollars held by anyone but X with 99 cents, added up the spare cents and gave them to X.

So inflation is the transfer of wealth from people who already own dollars to the people who get the newly printed dollars.