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Thesis. Maybe we can (finally) critique demand inflation as a category. View inflation instead as: 1) supply chain, distributional, and capacity barriers to the investment-consumption feedback (accumulation) 2) interim segmented responses to barriers being addressed
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Whoa, now that is quite the hot take coming from a Fed staffer: twitter.com/FedResearch/st…
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That is “too much money chasing too few goods” is an expression of other failures (why are there too few goods, why aren’t more being made, why can’t more be consumed, & why aren’t consequences being tackled by L-C-S bargaining) and not of consumption itself or its demand base.
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