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Inflation is always and everywhere a monetary phenomenon.
Biden, Media Gaslight People about Inflation By Ron Paul "Biden is not alone in trying to gaslight the people into thinking price inflation is rooted in the actions of private individuals and not the fiat money system Americans have lived under since 1971."
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I've mentioned this elsewhere, but every so often I work on historical price series data. When we check for structural breaks, there's pretty much always something in the early 70's and it usually baffles whoever I'm working with. They try to think of explanations specific to whatever good or service we're analyzing. When I point out that the monetary system changed, they look at me like I have two heads.
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