The video below shows a debate between Peter Schiff and Scott Sumner- moderated by Kudlow on CNBC. Market pundits continue to obsessively debate inflation through the lens of the CPI (which I do agree with Schiff and others is manipulated via hedonic edits and the like, resulting in an understatement), but miss the fact that inflation is outsized growth in money supply.
As M2 money supply has increased by more than 5x since 1980......
GDP doubled over the same time period.
but there is no inflation.
As M2 money supply has increased by more than 5x since 1980......
GDP doubled over the same time period.
but there is no inflation.
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