Get the people to fight and the puppet-masters are off the hook.
This is great stuff. I will have my students read it. And hopefully they will.
“the lost real wages of these past few years… will probably never be made up.” And, even if they were, bracket creep would ensure that the employees remain worse off on an after-tax basis.
Very good summation of the inner workings of inflation, especially post Covid-19. Expect the gas lighting on this subject to continue. The Fed has, for many decades, relied upon inflation to get things back in check for the balance sheet and Petro dollar.. With the massive money printing and reckless, out of control, government spending with the imprimatur of the political uniparty since 2008, this time will likely be much different. Other developing nations are paying attention and and forming strategies to protect their own best self interests. "May you live in interesting times", I believe we have that well covered!
And don't fool yourself into thinking they had no idea this would happen.
Jesuit families run the International Bank of Settlements.