re: I found a receipt from a Sam's trip from early 2020

quote:

---

ou are economically illiterate. No other way for me to say that politely. We do not have a global currency. Inflation is purely a result of governmental monetary policy. Biden decided to pump over 4 trillion into the economy in his first 2 years of office when everyone warned him that we would get inflation.

---

And just like that Leto won’t be back in this thread. Facts tend to always scare them off

quote:

---

No other way for me to say that politely. We do not have a global currency. Inflation is purely a result of governmental monetary policy

---

I mean you're calling the guy an idiot and 'economically illiterate' but Biden's spending bills are fiscal policy, not monetary policy.

Monetary policy refers to Central Banking policy which Biden doesn't control.

Fiscal policy refers to government spending.

Anybody who isn't economically illiterate wouldn't use the terms interchangeably. They refer to different things - I normally wouldn't correct someone on it but most people aren't throwing around terms like 'economically illiterate'.

But if you are actually arguing it is monetary policy i.e. Central Banking QE causing inflation, I don't think you'd find a financial professional who disagrees there.