Prices for goods and services at both the producer and the consumer levels jumped far above forecasts in July. Are these harbingers of the coming tsunami of price increases based on the huge jump in the money supply reported by the Fed?
The Goldman Sachs investment bank said forcing all Americans to wear masks would protect the GDP from taking a five-percent hit while helping avoid more lockdowns.
Though the Consumer Price Index shows prices dropping now, mainly because of the low price of gasoline, the growth in the money supply is explosive, portending higher and then much higher prices at the consumer level.
The coronavirus stimulus programs will massively increase the national debt, and the Keynesian economists in Washington don’t see any problem with that.