Freezy on Nostr: Was talking to my airbnb host about Murica and it got to the topic of inflation. He ...

Was talking to my airbnb host about Murica and it got to the topic of inflation. He explained to me that it's 'greedflation' and due to greedy corporations making record profits 😬

He's a kind & intelligent guy, former public teacher & now pastor and still it seemed to not cross his mind that lockdowns (destroying supply side) plus enormous money printing (pumping demand side) are obviously highly inflationary policies.

Obviously, checking operating margins on large retailers and other large corporations within the manufacturing process of daily goods will also immediately show that they didn't suddenly 'became greedy' and chose to double their margins.

Also obviously, an inflationary monetary system will see yearly 'record profits' as a structural phenomenon.

#bitcoin