Milton Friedman Speaks: Money and Inflation…
Inflation is blamed on many things, such as rising costs or increasing demand. However, it has only one cause: an increase in the money supply. When this happens faster than the increase in goods and services, prices rise. Why does the money supply increase? Governments sometimes print more money to pay their bills without raising taxes. There’s only one real cure for inflation: spending cuts and less printing of money. The alternatives are both recession and double-digit inflation.
Recorded at University of San Diego & San Diego Chamber of Commerce ©1978
It's fascinating watching the government use the same playbook from 40 years ago.
Every single excuse Milton Friedman said they'd use is word-for-word what's being said today.https://t.co/NAwheT5KR4 pic.twitter.com/bzelrDBD8G
— Financelot (@FinanceLancelot) July 1, 2022
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