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It's All Politics
Paul Krugman declares US not in a recession, claims 'negativity bias' in media
submitted 1 year ago by sproketboy from foxnews.com
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Moreover, inflation is indeed transitory in a wealthy country like the US, as it's a form of market correction, combined with Fed restrictions. The 'transition' takes much longer in poorer countries.
https://fredblog.stlouisfed.org/2014/03/currency-in-circulation/
https://fred.stlouisfed.org/series/CURRCIR
Take a look at this graph of the US money supply. Inflation should roughly equal 'growth in currency supply' - 'GDP growth' given time to correct. Currency supply up 15% per year for 2020, after nearly a decade at 5-6% (While GDP was growing 2-3%, for a healthy low level of inflation). The biggest spike in 20 years. Fed policy is why we have inflation, and Powell is Biden's guy. Krugman certainly knows this, despite whatever bullshit narrative he is shilling in the NYT.
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