Inflation, Deflation, & Other Fallacies
The comments below are an edited and abridged synopsis of an article by Alasdair Macleod
Macroeconomic policies are failing around the world. The fallacies being exposed are so entrenched that there are bound to be twists and turns yet to come.
This article explains the fake news behind inflation, deflation, economic performance and interest rates. They arise from the modern states’ overriding determination to access the wealth of its electorate instead of being driven by a genuine and considered concern for its welfare. Runaway monetary inflation transfers wealth to the state from producers and consumers, and is about to accelerate. Everything about macroeconomics is now with that economically destructive objective in mind.
Falling prices, the outcome of commercial competition, and sound money are more aligned with the interests of ordinary people, but that is so derided by neo-Keynesians that today, almost without exception, everyone believes in inflationism.
Up for discussion: demand-siders and supply-siders; economic progress is reflected by falling, not rising, prices; interest rates; why price inflation increases in a failing economy; and interest rates must rise, but gold and silver will be unstoppable.
