by J. Kennerly Davis
American Thinker
The most important thing to understand about the persistent inflation that has destroyed 20 percent of the dollar’s purchasing power since Joe Biden took office is that inflation is not the target of government policies designed to eliminate it. Inflation is the creation of government policies and government policies intentionally perpetuate inflation to enable the government to default unlawfully on its otherwise unsustainable debt.
Inflation is always and everywhere the result of government policies that increase the supply of money circulating in the economy faster than the productive sectors of the economy can expand their capacity to produce goods and services for purchase.
From day one, the Biden administration has flooded the economy with borrowed money in the form of transfer payments, subsidies, and grants designed to secure the political support of favored constituencies such as those in the green tech sector.