| | [[File:Let's Go Brandon2.JPG|right|200px|thumb|As inflation ravaged America after the [[U.S. Color Revolution|2020 Socialist putsch]], consumers revolted.]] | | [[File:Let's Go Brandon2.JPG|right|200px|thumb|As inflation ravaged America after the [[U.S. Color Revolution|2020 Socialist putsch]], consumers revolted.]] |
| − | 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, which can be due to a variety of causes including higher energy prices as occurred in the 1970s. "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> Another definition of inflation is an increase in the [[money supply]], as in a government printing more dollars, in excess of the production of goods and services.<ref>Inflation is not caused by [[global warming]] or any natural phenomenon. Inflation is caused directly by the people whom voters elect to office.</ref> By inflating the money supply, the [[U.S. Congress]] devalues everyone's savings, and increases interest costs on its [[deficit spending]]. In 2021, President [[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> A currency becomes worthless when there is [[infinite]] inflation. | + | 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, which can be due to a variety of causes including higher energy prices as occurred in the 1970s. "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> Another definition of inflation is an increase in the [[money supply]], as in a government printing more dollars, in excess of the production of goods and services.<ref>Inflation is not caused by [[global warming]] or any natural phenomenon. Inflation is caused directly by the people whom voters elect to office.</ref> By inflating the money supply, the [[U.S. Congress]] devalues everyone's savings, and increases interest costs on its [[deficit spending]]. In 2021, President [[Biden]]'s $1.9 trillion [[COVID-19|Covid]] spending 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> A currency becomes worthless when there is [[infinite]] inflation. |
| | 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]]. | | 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]]. |