Re:Joint Statement by the Department of the Treasury, Federa...
by mcv on Monday March 13, 2023 @12:00PM
(#35137559)
I am sorry and you are correct. I blindly assumed that "inflation" means "price inflation", but you explicitly specified "monetary inflation", which is something completely different (though sometimes related).
My apologies for reading incorrectly. My comment is true only for price inflation.
I never said inflation was detrimental or harmful (my personal belief is that it is harmful, however), just that adding money to the supply is by definition monetary inflation (the origin of the concept of cost inflation which is what we’re being asked to accept as the true definition). Putting air into a balloon doesn’t mean it will pop; it’s still being inflated. Hey, it’s even more fun for a while ;-)
I was responding to a parent who said printing money isn’t inflation, when it’s the literal definition of, and the origin of the term in monetary theory. It’s not very constructive to conversation to attempt to change meaning of words to make one point or another.