So whats going on here? We have bad policy (and we CAN fix this, as Huntsman outlines, as CoinCenter advocates for, etc).
- We have inflation - We do have rising prices in the U.S., and this is mostly a function of high demand and constrained supply chains, as well as outsized fiscal and monetary stimulus.
However this is not hyperinflation - what happened in Weimar is that they were trying to spend their way out of a war debt situation, with the assumption that they would win the war (which didn’t work) and instead they inflated away their economy
The main takeaway from this piece is:
- Policy is fundamentally broken (and we already knew that). And we know that we can fix it. We just have to engage.
- But policy is broken because we have forgotten about the connectors. We have become so accustomed to the “consumption on-demand” society that we operate in that we have forgotten that this society hinges on people.
We have to remember people are behind EVERYTHING. Take care of each other.
