sofixa 2 days ago

I'm not saying this because they're disagreeing with me. Inflation is probably one of the most talked about topics of the past few years, I find it impossible that people haven't heard about the multi-layered complexity of it, and thus anyone blaming it purely on "money printing" has to be acting in bad faith.

2
theultdev 2 days ago

It's not really complex, GP is correct.

High energy prices cause high transportation and manufacturing costs which causes everything else to rise.

But the main cause of inflation is printing of money, especially when you introduce such a large amount in such a short time.

People used to know that, they either pretend it's not true now or they're ignorant.

And yes the "bad faith" parrot line is really annoying and doesn't contribute to the conversation. It's what people say when they don't have a rebuttal.

sofixa 1 day ago

> It's what people say when they don't have a rebuttal

Only I have a rebuttal, and came with receipts from Eurostat. So what exactly are you trying to argue?

> But the main cause of inflation is printing of money, especially when you introduce such a large amount in such a short time.

The original premise (which is still in bad faith, however much you dislike that part) was that money printing was the main cause. And this is fundamentally and provably wrong (check my comment upthread, Eurostat inflation per sector with the timeline). Inflation was kickstarted by energy inflation which coincides with the Russian invasion.

Did money printing contribute? Of course. Did Russia's invasion of Ukraine and all the issues it brought in energy prices and food prices? Of course. Did the Houthis contribute with their attacks disturbing supply chains? Probably. Did Covid contribute with all the supply chain issues it caused? Of course.

Trying to pin it solely or mostly on one single reason, especially when it is a global phenomenon that many countries suffered from regardless of their exact specifics (e.g. Sweden's monetary policy was not the same as the EUs nor Canada's, yet they all suffered from serious inflation) is arguing in bad faith. It's so trivially provably wrong, it's not even funny entertaining people who are wrong.

t-3 1 day ago

This is due to people being taught that inflation is about the money supply as a matter of faith in (US at least) grade schools and colleges. It's rare for other causes to discussed or for the quantity-of-money argument to be questioned.