By: Jay Kalinski | BizWest
For much of the past year, many “expert” economists kept insisting that the inflation that we were all experiencing was due to pent up demand from the pandemic and would be temporary, limited, and confined to only a few sectors of the economy. Unfortunately, as with many things that experts predict, this turned out not to be the case, and we are now barreling toward a likely recession. It turns out that when the government prints trillions of dollars and injects it into the economy — beginning in the Trump administration, so it’s not just Biden’s fault — all that extra demand causes prices to rise as more money chases the same amount of goods (actually, it is chasing fewer goods due to supply chain issues, etc.) It’s kind of like your crazy uncle who carelessly squirts lighter fluid on the campfire and tells you to relax because he “knows what he’s doing.”