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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 The Definition of Inflation Is Incomplete]. ''FEE''. May 12, 2019</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.

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 The Definition of Inflation Is Incomplete]. ''FEE''. May 12, 2019</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> [[John Maynard Keynes]] in ''Economic Consequences of the Peace'' said,

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.