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Line 63: − − ==Quotes on Inflation== − * “The way to crush the [[middle class]] is to grind them between the millstones of [[taxation]] and inflation.” -- [[Lenin]] Line 74:
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The inflation rate is expressed as a percentage increase in average prices over a year. For example, if the cost of the CPI "basket" rises from $100 one year ago to $110 today, the current inflation rate is 10 per cent. When the CPI rises, the purchasing power of currency and value of a worker's labor falls.<ref>
The inflation rate is expressed as a percentage increase in average prices over a year. For example, if the cost of the CPI "basket" rises from $100 one year ago to $110 today, the current inflation rate is 10 per cent. When the CPI rises, the purchasing power of currency and value of a worker's labor falls.<ref>
Wanniski, Jude. "Money and Tax Rates." In Wanniski. The Way the World Works. 1978.</ref>
Wanniski, Jude. "Money and Tax Rates." In Wanniski. The Way the World Works. 1978.</ref>
==Joeflation==
==Joeflation==
==Great Reset==
==Great Reset==
{{See also|Russian sanctions}}
Russian President [[Vladimir Putin]] offered his explanation for the inflation that racked global economies in 2022:
Russian President [[Vladimir Putin]] offered his explanation for the inflation that racked global economies in 2022:
{{quotebox-float|"Surging inflation in product and commodity markets had become a fact of life long before the events of this year. The world has been driven into this situation, little by little, by many years of irresponsible [[macroeconomic]] policies pursued by the [[G7]] countries, including uncontrolled emission and accumulation of unsecured debt. These processes intensified with the onset of the [[coronavirus pandemic]] in 2020, when [[supply and demand]] for goods and services drastically fell on a global scale.
{{quotebox-float|"Surging inflation in product and commodity markets had become a fact of life long before the events of this year. The world has been driven into this situation, little by little, by many years of irresponsible [[macroeconomic]] policies pursued by the [[G7]] countries, including uncontrolled emission and accumulation of unsecured debt. These processes intensified with the onset of the [[coronavirus pandemic]] in 2020, when [[supply and demand]] for goods and services drastically fell on a global scale.
The [[European Union]] is building up imports even faster. Obviously, such a sharp increase in demand that is not covered by the supply of goods has triggered a wave of shortages and global inflation. This is where this global inflation originates.}}
The [[European Union]] is building up imports even faster. Obviously, such a sharp increase in demand that is not covered by the supply of goods has triggered a wave of shortages and global inflation. This is where this global inflation originates.}}
==Quotes on Inflation==
* “The way to crush the [[middle class]] is to grind them between the millstones of [[taxation]] and inflation.” -- [[Lenin]]
==See also==
==See also==