Inflation is caused wages increasing and the increased cost of labor being passed on to the consumer by increasing prices on the product. It’s important to remember that money is created through debt. “Money printing” by the fed that the right likes to blame inflation on isn’t accurate. They are printing money to purchase debt, which people and companies keep creating because interest rates are near zero. It’s generally the lower earners, not the millionaires, that are hurt by inflation. Wages have increased but have not kept pace with inflation, meaning the average middle and lower class person is poorer today than a year ago despite earning more money. Also, Trump’s stimulus checks got spent on products that the wealthy own who in turn invested that money in the stock market and real estate, both of which have had record gains, leading to the greatest transfer of wealth from the lower classes to the upper classes in history. The thing the political class does not want to admit is that quality of life in the US peaked in the 1960s and future generations will continue to live worse lives than their parents and grandparents. There is simply no way to return to a post world war era where the factories of Europe and Asia had all been bombed and the US was the only one producing anything, plus 100m workers had just died, leading to a labor shortage where the worker could demand higher wages and working conditions. Now, the company can just ship jobs to countries that have a surplus of labor and more relaxed ethics. The sooner people accept this, the better. If worker want to transfer wealth back from the millionaires, they need to stop consuming needlessly. Now, inflation is actually very easy to fix. You simply increase the interest rates. This means less people will borrow money, leading to less debt and less money being created. It will crash the stock market and house prices, which is why they won’t do it. The boomers are simply too used to seeing their 401k and house price continue to go up forever.
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