Spot on - and we have had a hell of a lot of inflation since 2008!
To them, inflation means an increase in prices. But that is not at all how the word was originally used. Inflation initially meant an increase in the supply of money and nothing else. Rising prices were a consequent of inflation, not inflation itself.
When my time on earth is gone, and my activities here are passed, I want they bury me upside down, and my critics can kiss my ass! Robert Montgomery Knight - The General
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