"Our research shows mathematically that the overwhelming driver of that burst of inflation in 2022 was federal spending, not the supply chain," said Mark Kritzman, a senior lecturer at MIT Sloan.
2. The combined effects of increased demand for durables and shortages caused by supply-chain disruptions were the main source of inflation in the second quarter of 2021. Both the direct and indirect effects of those supply-chain problems remained substantial through the end of 2022.
3. Tight labor-market conditions, one of the main concerns of the early critics of U.S fiscal and monetary policy, contributed only slightly to inflation. In fact, the tight labor market affected the economy negatively in 2020 and early 2021. Since then, however, the traditional Phillips-curve effect has begun to reemerge, with the high vacancy-to-unemployment ratio becoming an increasingly important factor in the high inflation rates.
Bernanke and Blanchard argue that the critics' concerns of higher inflation were correct. But the sources of the high inflation differed from those the critics had anticipated. The authors conclude that price shocks in product markets were the leading cause of the initial rise in inflation. However, as labor markets began to overheat in 2022, with unsustainable employment increases, a high ratio of job openings to unemployed workers, and low levels of quits, labor market tightness increasingly became the main cause of the persistently high inflation rates.
John Cochrane: In my analysis, inflation mostly came from the government's $5 trillion in COVID and post-COVID deficits. The government essentially sent people $5 trillion with no plans to pay the money back. People tried to spend it, driving up prices.
I guess you missed the "it did not" part of that. And he didn't say it contributed a nominal 0.5%. He said it contributed 0.5% of the current inflation. So if inflation was at 1% he was saying it contributed 0.5% of that 1%, AKA 0.00005%
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I doubt he said there was 0% effect on inflation, yeah. I'm usually familiar with his talking points.
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I didn't, hes lying lol.
I said covid spending probably had some impact but it was always primarily a global supply chain issue, which it was.
anyone denying the supply chain issues in relation to the covid inflation is outright r-slurred.
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https://rdrama.net/post/53011/people-of-r-drama/1565547#context
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is 0.5% 0%?
I still stand by spending being a fraction of inflation. you claimed it was the primary cause.
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https://mitsloan.mit.edu/ideas-made-to-matter/federal-spending-was-responsible-2022-spike-inflation-research-shows
"Our research shows mathematically that the overwhelming driver of that burst of inflation in 2022 was federal spending, not the supply chain," said Mark Kritzman, a senior lecturer at MIT Sloan.
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these people Trump the genral consensus, and if so, why?
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Just because you believe something doesn't mean it's the "general consensus"
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https://www.bls.gov/opub/mlr/2023/beyond-bls/what-caused-the-high-inflation-during-the-covid-19-period.htm
For example.
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Okay and? Bernanke and Blanchard doesn't = a "general consensus"
https://www.gsb.stanford.edu/insights/grumpy-economist-weighs-inflations-causes-its-cures
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"It did not"
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that was in response to you claiming it was the primary cause of inflation you absolute neurodivergent.
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https://mitsloan.mit.edu/ideas-made-to-matter/federal-spending-was-responsible-2022-spike-inflation-research-shows
It was lol
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no it was not.
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I am the truest !friendsofpizzashill
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Revisionist history of your posting.
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ok r-slur
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ok r-slur
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You literally look like an r-slured FAS baby.
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go spam your talk radio conspiracies to someone else bro, you're an actual r-slurred person.
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Says the r-slurred FAS baby.
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https://rdrama.net/post/53011/people-of-r-drama/1565547#context
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.5% is significant in terms of inflation.
You are
and ![:marseypizzarentfree: :marseypizzarentfree:](https://i.rdrama.net/e/marseypizzarentfree.webp)
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I guess you missed the "it did not" part of that. And he didn't say it contributed a nominal 0.5%. He said it contributed 0.5% of the current inflation. So if inflation was at 1% he was saying it contributed 0.5% of that 1%, AKA 0.00005%
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No he didn't.. you even sperg out about how .5% is a significant amount.. the exact words I did![:marseygigathonk: :marseygigathonk:](https://i.rdrama.net/e/marseygigathonk.webp)
He also asked you where he said stimulus had 0 effect on inflation.. the exact words i did![:marseymindblown: :marseymindblown:](https://i.rdrama.net/e/marseymindblown.webp)
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