"Throughout history, most sudden spikes in inflation were preceded by rising commodity prices pushing up costs." Not true: Zimbabwe, VZ
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Hey WSJ, go check your Geanakaplos model of leverage cycles http://www.nber.org/chapters/c11786
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If you destroy production, then you get Inflation. Destroy oil production in VZ, you get inflation. /1
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these studies also forget the velocity of money almosted stopped. Money supply alone does not drive inflation.
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