On this Elon/Trump talk, Trump just said “we would have no inflation” if not for Biden. This is false.

I think it’s important to clarify that there *was* massive inflation during Trump’s administration.

From January 2017 to January 2021, the M2 money supply increased from ~$13.3 trillion to ~$19.4 trillion by January 2021.

That’s an INFLATION of ~$6.1 trillion, or ~45%.

There is a LAG between monetary inflation and general price increases throughout the economy, and price increases do not happen uniformly (look up the Cantillon Effect).

To clarify for the partisans out there: this is NOT an attempt to make excuses for Biden or to say that the monetary and fiscal policies under Biden are good; they are not good.

The point is that it is false to say “there was no inflation” under Trump.

Monetary inflation *is* inflation.

People not on Nostr can zap the note author

The world has literally gone crazy. How is that different than saying

"Car manufacturers can be held responsible for criminal activity when criminals use their cars to commit crimes and cannot be stopped or identified"

"Book publishers can be held responsible for criminal activity when criminals use information from their books to commit crimes and cannot be stopped or identified."

"Camera manufacturers can be held responsible for criminal activity when criminals use their cameras to surveil and plan illegal activities and cannot be stopped or identified."

My question exactly but from the opposite side.