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A comment on Charts about Wealth Inequality in America. Parent comment

Re:Charts about Wealth Inequality in America by thehardsphere on Friday July 07, 2017 @04:15PM (#14721695)
Inflation is a monetary phenomenon that affects all prices in the economy. If there's only a price increase in one sector it's by definition not inflation.
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Re:Charts about Wealth Inequality in America by crdoconnor on Saturday July 08, 2017 @12:28PM (#14725965)
Not true. When the oil crisis hit in the 70s for example, inflation spiked. OPEC wasn't a monetary phenomenon.
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Re:Charts about Wealth Inequality in America by thehardsphere on Monday July 10, 2017 @02:04PM (#14738252)
OPEC did not cause the inflation, nor did the increasing price of oil. During the same period, the US fully abandoned the gold standard and the Federal Reserve pursued a policy of loose money. Here's a brief history:

http://www.investopedia.com/articles/economics/09/1970s-grea...

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