Loading ...If the costs or prices, of Materials and Labor were artificially controlled and suppressed, for decades, and that interference with “the invisible hand” of capitalism, eventually resulted in a culmination, a 2008 financial crisis, after which everything went into reverse. Meaning the correct prices of material and labor were going higher to be “normal”. Is that inflation?
Like if you were renting long term, decades, and the land lord neglected to raise your rent, and you were paying $800/mo for an apartment that is worth $1800/mo. Then a new landlord brings your rent up to date $1800. Is that inflation?
In my view, the money supply was shrinking from 1971 to 1981 with high rates to 21% sucking money into deposit accounts, and inhibiting borrowing and spending. The money supply was increasing 1934 to 1971. After they removed gold backing prices inverted upward, and TPTB media blamed “too high wages” and called it “the wage price spiral”.