Changes

In economics, '''Inflation''' is a general increase in the cost of goods and services compared with the value of the currency used to purchase them. "Today, mainstream economists hold the notion that inflation is an increase in the price of goods or services."<ref name="Fee">https://fee.org/articles/the-definition-of-inflation-is-incomplete/?gad_source=1&gclid=CjwKCAjw9cCyBhBzEiwAJTUWNZJjR-wz-VJBcu0ACqMSXwEaGQlegSUC2kochazNIrZn262r_blvjhoCLuoQAvD_BwE</ref>  But that definition has been criticized for failing to address the cause of inflation.<ref name="Fee"/> Another definition of inflation is an increase in the [[money supply]], as in a government printing more dollars, in excess of the quantity of goods and services being produced.  Inflation is not caused by [[global warming]] or any natural phenomena. Inflation is caused directly by the people whom voters elect to office.  By inflating the money supply, the U.S. Congress is attempting to monetize and devalue its debt for past [[deficit spending]].  Biden's $1.9 trillion [[COVID-19|Covid]] boondoggle caused inflation to spike to its highest level in 40 years.<ref>https://www.msn.com/en-us/money/markets/biden-e2-80-99s-2419-trillion-win-on-covid-aid-hobbles-rest-of-agenda/ar-AAUpZ42</ref>

In economics, '''Inflation''' is a general increase in the cost of goods and services compared with the value of the currency used to purchase them. "Today, mainstream economists hold the notion that inflation is an increase in the price of goods or services."<ref name="Fee">https://fee.org/articles/the-definition-of-inflation-is-incomplete/?gad_source=1&gclid=CjwKCAjw9cCyBhBzEiwAJTUWNZJjR-wz-VJBcu0ACqMSXwEaGQlegSUC2kochazNIrZn262r_blvjhoCLuoQAvD_BwE</ref>  But that definition has been criticized for failing to address the cause of inflation.<ref name="Fee"/> Another definition of inflation is an increase in the [[money supply]], as in a government printing more dollars, in excess of the quantity of goods and services being produced.  Inflation is not caused by [[global warming]] or any natural phenomena. Inflation is caused directly by the people whom voters elect to office.  By inflating the money supply, the U.S. Congress is attempting to monetize and devalue its debt for past [[deficit spending]].  Biden's $1.9 trillion [[COVID-19|Covid]] boondoggle caused inflation to spike to its highest level in 40 years.<ref>https://www.msn.com/en-us/money/markets/biden-e2-80-99s-2419-trillion-win-on-covid-aid-hobbles-rest-of-agenda/ar-AAUpZ42</ref>

Inflation robs workers of the wealth and the value of their labor and discourages savings, investment, and [[capital]] accumulation. Inflation creates panic buying, as workers spend their paychecks quickly before their money loses further value.  Inflation is a hallmark of [[Socialism]].

Inflation robs workers of the wealth and the value of their labor and discourages savings, investment, and [[capital]] accumulation.<ref>See Matt 10:10: ''the workman is worthy of his meat''</ref> Inflation creates panic buying, as workers spend their paychecks quickly before their money loses further value.  Inflation is a hallmark of [[Socialism]].

High inflation undermines the [[economy]]'s ability to generate long-lasting growth and job creation.  High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation. [[Social Security]] payments are adjusted to inflation months or years after the fact and typically when inflation has already accelerated to higher levels.  

High inflation undermines the [[economy]]'s ability to generate long-lasting growth and job creation.  High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation. [[Social Security]] payments are adjusted to inflation months or years after the fact and typically when inflation has already accelerated to higher levels.