Interesting video

[Vitamin c]

[youtube]https://youtu.be/CFjIgZcYIKg[/youtube]
Is this were we are heading..?

[Frnc]

Interesting, and a bit worrying. I think thay are right. Clearly our government has increased money supply, and we do have inflation. But to say the free market would solve this is a bit pie in the sky. It's never going to happen. I think he is what Americans call a libertarian.
The problem is that our government blew all the money they created/borrowed, with nothing to show for it. If they created money and used it to build renewable energy infrastucture and insulate our homes, I can't see that having a detrimental effect.

[Frnc]

Another problem with the Romans is they relied on slavery, and to do that I believe you need to keep exanding the empire. You can't keep doing that indefinitely. It was a bit like that with the colonial empires. Germany was way behind on that front, hence WW1. It had to expand within Europe as the rest of the world had already been colonised.
But those inflation figures for the Roman empire are mind boggling.
Back to slavery, I think the American civil war started because the South was threatening to try to expand.

[Vitamin c]

What gets me is that money printing is far from new ,it's never worked out well for those countries doing it .
But Britain/the west are bang at it .
Inflation has been blamed on russias war ,covid , China, but the truth is closer to home.

[jennyjj01]

What gets me is that money printing is far from new ,it's never worked out well for those countries doing it .
But Britain/the west are bang at it .
Inflation has been blamed on russias war ,covid , China, but the truth is closer to home.

It's just demand outstripping supply. Supply of the most precious resources is waning and that's partly down to Russias war and actions. Covid probably suppressed demand as much as anything, with us all bugged in. Then with the tail end of covid, did it surge, just as those supply side problems flare up?

Stoopid governments try to create growth. It's a bit like when nations aspire to grow their population so as to have a bigger next generation paying this generation's pension. Totally wrong headed ponzi scheme when they don't have the resources.

Have governments not figured out that equilibrium works too? Have they heck?

It's all an enigma, in that what's best for us, as a species, is our own suppression, our own lean austerity.... As an ongoing way of life.

But we've grown entitled and complacent.

[Frnc]

It's just demand outstripping supply.

I don't think it's just that.

Money is created
1. when banks loan money
2. Central banks can influence the money supply. They can increase the money supply by purchasing government securities, such as government bonds.

Quantitative easing

Quantitative easing involves the creation of electronic money by the Bank of England to purchase gilts from the financial sector. In theory, this should increase the money supply.

Does Quantitative Easing automatically cause higher inflation?
https://www.economicshelp.org/blog/2900 ... ve-easing/

M2 money supply increase in UK to £ 3 trillion
https://www.statista.com/statistics/922 ... supply-m2/

BBC:
"The Bank of England has pumped hundreds of billions of pounds into the economy to support it through a series of shocks, through a process called 'quantitative easing'.

The economy now faces a different challenge - rapidly rising prices - and the Bank is starting to reverse that support. "

Of course the BBC only hints that QE may have been part of the cause of inflation. Mervyn King has said it was. Others have disagreed.

King was boss of the BoE when it first did QE after the 2008 banking crisis. What he's saying is they started using in recent years much too readily, when they didn't need to.

https://www.theguardian.com/business/20 ... r-governor

[jennyjj01]

It's just demand outstripping supply.

I don't think it's just that.

Money is created
1. when banks loan money
2. Central banks can influence the money supply. They can increase the money supply by purchasing government securities, such as government bonds.

Quantitative easing

Quantitative easing involves the creation of electronic money by the Bank of England to purchase gilts from the financial sector. In theory, this should increase the money supply.

Does Quantitative Easing automatically cause higher inflation?
https://www.economicshelp.org/blog/2900 ... ve-easing/

M2 money supply increase in UK to £ 3 trillion
https://www.statista.com/statistics/922 ... supply-m2/

BBC:
"The Bank of England has pumped hundreds of billions of pounds into the economy to support it through a series of shocks, through a process called 'quantitative easing'.

The economy now faces a different challenge - rapidly rising prices - and the Bank is starting to reverse that support. "

Of course the BBC only hints that QE may have been part of the cause of inflation. Mervyn King has said it was. Others have disagreed.

King was boss of the BoE when it first did QE after the 2008 banking crisis. What he's saying is they started using in recent years much too readily, when they didn't need to.

https://www.theguardian.com/business/20 ... r-governor

QE was a toxic medicine, Even the name of it sounds like smoke and mirrors. "We are not just printing money, we are quantitative easing". Stopping, before I get into politicking.

[GillyBee]

On a related note I was looking for what Ferfal had to say about power outages and found one of the first pages posted on his blog about the Argentinian economic collapse of the early 2000s. I had read it before but this time I read and thought - "That is now starting to happen here" which I have never done before. It made it a sobering read, wondering if this is where we might be headed. I do hope we manage to do things differently
https://ferfal.blogspot.com/2008/

[Frnc]

On a related note I was looking for what Ferfal had to say about power outages and found one of the first pages posted on his blog about the Argentinian economic collapse of the early 2000s. I had read it before but this time I read and thought - "That is now starting to happen here" which I have never done before. It made it a sobering read, wondering if this is where we might be headed. I do hope we manage to do things differently
https://ferfal.blogspot.com/2008/

Argentina's economy collapsed after the government privatised everything. They had had inflation in the past. And military coups.
Well, we've not had the military coups, that's something!