Defending Monetary Sanity Against Inflationist Attacks
13th December 2021
Senator Elizabeth Warren recently stated that rising prices were due to corporations increasing their profits.
“This isn’t about inflation, this is about price gouging for these guys”.
It is simply incorrect.
No, corporations have not doubled their profits, and rising prices are not due to the evil doings of businesses. If evil corporations are to blame for rising prices in 2021, as Elizabeth Warren says, I imagine that they were magnanimous and generous corporations when there was low or no inflation, right?
Inflation is the tax of the poor.
It destroys the purchasing power of wages and engulfs the little savings that workers accumulate. The rich can protect themselves by investing in real assets, real estate and financial, the poor cannot.
Inflation is not a coincidence, it is a policy.
Elizabeth Warren is not an economist, she is a law professor. (And not even a good law professor, despite her being an affirmative-action hire at Harvard.) She has demonstrated that she knows nothing about economics beyond her socialist ideology and her proglodyte puritanism.