dennisbmurphy
1 min readMar 16, 2021

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Convenient for you that when you mention inflation you cite examples with zero relevance to modern America (Zimbabwe with a largely agrarian economy also financing a war in nearby Congo, the Confederacy which was under a gold standard, Weimar Germany saddled with reparations and a gold standard).

Conveniently for you also the paper you link has a detailed explanation of why inflation may NOT follow increase in the money supply: velocity of circulation (highly likely to occur now due increased needs of citizens), increased aggregate demand, liquidity trap (other readers can go see this explanation for themselves)

Inflation barely budged after the stimulus and recovery from the Bush Recession of 2008-10. At most it hit approximately 2.5%

As has been stated before, public debt is NOT problematic. The US has experienced NO "crowding out" of investment money. Approximately 65% of US debt is owed to ourselves or are merely ledger numbers (such as the US Govt 'owing' money to the Federal Reserve).

Finally my usual critique of your articles- ZERO citations for your assertions. The links provided in this article merely direct to examples. But when you write things like "Rational economists worry.." you provide NO examples of several, much less many, economists who agree with you.

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dennisbmurphy
dennisbmurphy

Written by dennisbmurphy

Cyclist, runner. Backpacking, kayaking. .Enjoy travel, love reading history. Congressional candidate in 2016. Anti-facist. Home chef. BMuEd. Quality Engineer

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