Yeah, I don't think we can really call fiscal expansion inflation at all if we are defining inflation as an expansion of the money supply, unless we call the debt instruments it uses money itself. Although, that debt could be thought of as a form of credit, so it could be considered (I think) an expansion of credit which drives production toward what the receiver of these funds (government) wants, pretty much immediately, and if this represents poor allocation of resources, it makes everyone worse off even though it was not technically monetary inflation. Keynesians like to pretend that the government either always or usually knows better than individuals, and their prescriptions, which bolster the current monetary order's perceived legitimacy and beneficence, rely entirely on that flimsy snuck premise. Add to this that there is precious little effective feedback to the government regarding its expenses and how to allocate them, and you can almost guarantee that every government program is a misuse of funds vs what the private market would do, and thus lowers living standards and dollar purchasing power by that opportunity cost. That does not mean that every single thing government officials or politicians do will be that bad of a misuse, Thomas Massie exists. But he is not the norm.
I have much more to learn as regards money, but yeah you and I are pretty much on the same page on this matter. Cheers!
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