We now have the highest inflation in 30 years. This was entirely predictable. In fact, I predicted it. See my post from April 20, 2020. Hang on. We are just getting started. The new “infrastructure” bill that just passed is the monetary equivalent of pouring gasoline in a dumpster that is already on fire. You go from this:
Believe me. I am not claiming any special insight. My conclusions were a combination of paying attention and making common sense deductions from observations. If you see someone opening the spigot on a fire hydrant, you are not a genius if you predict the street is going to get really wet. If the government says they are going to dump more money into the economy than ever in the history of the republic with no end in sight, you are not a genius if you predict that is going to lead to inflation.
And there really is no end in sight. Hang on boys and girls. We are in for a wild ride. The days of the dollar as we have known it for the better part of a century are numbered.
One of two things is true. The people running the country are really really stupid or they specifically intend the entirely predictable consequences of their actions. I don’t think the people running the country are that stupid. Which is not to say there are not some really stupid people in Congress; that certain bartender cum congresswoman springs to mind. But they are a small minority. I am fairly certain that the intelligence of the people running the country is distributed on a normal curve. There are some extremely smart ones; most are average; and there are some extremely stupid ones (e.g., AOC).
And since I do not believe this is the result of stupidity, I must conclude that the incipient destruction of the dollar is not a bug of their policy prescriptions. It is a feature. I believe it is a feature for the reasons I discuss in the linked post.