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Has the Fed lost its way? Kevin Warsh, Hoover visiting fellow and on the short list of candidates to be the next chairman of the Federal Reserve, thinks the Fed has and offers solutions on how to fix it. Drawing on his firsthand experience during the 2008 financial crisis and his continuing work as a … Read more
People confuse price fluctuations with inflation, and they are not the same thing. Could the price of certain goods fluctuate inside a market, yes. However, that is not inflation. Inflation is the devaluation of the currency, which causes prices to rise across the entire market. – Thomas Lawson
“The Austrian [school of economics] holds that persistent inflation is brought about by continuing and chronic increases in the supply of money engineered by the federal government. “Since the inception of the Federal Reserve system in 1913, the supply of money and bank credit in America has been totally in control of the federal government.” … Read more
Defining Inflation According to Murray Rothbard and Ludwig von Mises, inflation is defined as the increase of the money supply out of “thin air.” Following this definition, one can ascertain that increases in money supply set economic impoverishment in motion by creating an exchange of nothing for something, the so-called counterfeit effect. Contrary to popular thinking, inflation … Read more
“We need inflation in the system to maintain economic growth” is like saying “Wearing a Batman costume with fake muscles makes us look muscular” Nominal vs Real Fake muscles, like inflation, makes you *look* like you have big muscles. But that’s *Nominal* growth, not *Real* growth. *Real* growth comes from lifting weights and eating properly. … Read more
A pint of beer starts out as 16 ounces of 100% beer, just like an economy starts out on a 100% gold standard. Then your buddy, who only wants to help, gets the bright idea of helping you make your beer go further – by watering it down. So he adds 16 ounces of water … Read more
In this episode of the Coin Stories with Natalie Brunell’s podcast with Jeff Booth, the following are discussed:
And that’s because, generally – thank’s to human progress and iterating on past work and technology getting better – we get more efficient at producing goods and services over time, gradually. So, if you had a fixed money supply, you’d expect prices to go down and not stay flat. Despite the fact that technology makes … Read more
“It’s what you can buy with what you’ve got that counts.” Scrooge McDuck, in 1967, explaining that, “Ah, inflation, that’s a mess. It means your money is worth less and less. It would take a hat-full of $100,000, I dare say, to buy what your piggybank can buy today.”
This inflation calculator uses official records published by the U.S. Department of Labor. Inflation has averaged 0.94% per year since 1635, causing an overall price difference of 3,683.96%. Use the calculator to look up inflation for any year (this year’s inflation is estimated based on latest monthly CPI data). Inflation Calculator
by Saifedean Ammous
by Satoshi Nakamoto
by Andreas M. Antonopoulos
