Changes

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.  

Inflation is caused when a government's appetite for spending on vote buying schemes exceeds its budget, flooding the country with excess currency, and leading to a general rise in the price level of a limited supply of goods and services. When businesses pass along their costs to consumers in order to remain in business, [[Marxist]]s attack and blame the "greedy" businessman rather than their [[statist]] allies in government who authorized the spending.  Under the socialist [[Biden regime]] and its transition to a socialist economy, inflation reached a 40 year high during its first 10 months with no end in sight.<ref>Mark Moore, "[https://nypost.com/2021/11/24/over-75-of-us-hit-by-inflation-and-most-blame-joe-biden-poll/ More than 75% of US hit by inflation and most blame Biden, poll shows]," NYPost, Nov 24, 2021</ref>

Inflation is caused when a government's appetite for spending on vote buying schemes exceeds its budget, flooding the country with excess currency, and leading to a general rise in the price level of a limited supply of goods and services. When businesses pass along their costs to consumers in order to remain in business, [[Marxist]]s attack and blame the "greedy" businessman rather than their [[statist]] allies in government who authorized the spending.  One of the primary purposes of an [[inflation]]ary policy is to foment [[class warfare]], pitting citizens against citizens, rather than holding politicians responsible for the decline in living standards for which they hope to benefit by authorizing more inflation and another round of social spending.  Under the socialist [[Biden regime]] and its transition to a socialist economy, inflation reached a 40 year high during its first 10 months with no end in sight.<ref>Mark Moore, "[https://nypost.com/2021/11/24/over-75-of-us-hit-by-inflation-and-most-blame-joe-biden-poll/ More than 75% of US hit by inflation and most blame Biden, poll shows]," NYPost, Nov 24, 2021</ref>

==Monetary theory==

==Monetary theory==