The Inflation Hoax

Paul Craig Roberts- Yes, prices are rising, but not for the reasons the Federal Reserve says. When I say inflation is a hoax, I mean the purported cause is a hoax.

Yes, prices are rising, but not for the reasons the Federal Reserve says. When I say inflation is a hoax, I mean the purported cause is a hoax. The Fed is fighting a consumer inflation, a “demand-pull” inflation.  But what we are experiencing is a supply-side inflation caused by the Covid lockdowns and economic sanctions that closed businesses, disrupted supply chains, and broke business relationships while reducing energy supplies to the UK and European countries, thus forcing up costs in a globalized economy.  One of the many neglected problems of globalism is that inflations and recessions are no long simply a national problem. Interconnectedness sends adversity globally, although in varying degrees. 

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https://thealtworld.com/paul_craig_roberts/the-inflation-hoax