SHE’S SUCH A TERRIBLE RETAIL POLITICIAN*: Vice President Kamala Harris Dodges Question If It Was Wrong To Consider Inflation Transitory (Video).

* Fortunately though, she’s taking lessons on how to improve her public perception — in accordance with the prophecy:

Earlier: How Biden’s Agenda Is Causing Inflation.

What Ford, Biden, Warren, and Yellen have in common is a failure to understand inflation’s most important underlying cause, which the Nobel Prize–winning economist Milton Friedman was explaining with unique clarity back in the 1970s. ‘To understand the cause of inflation, you must understand that it is anywhere and everywhere a monetary phenomenon,’ said Friedman. Supply-chain issues and rising demand are factors too, but the biggest contributors come from the government and the Federal Reserve.

We’ve seen absolutely massive increases in government spending over the past two years, which have been paid for by printing money and historic boosts in the money supply. When you print money it means that there are more dollars chasing basically the same amounts of goods and services, which causes prices to rise. In just the past three fiscal years, federal spending has swollen to nearly $7 trillion a year, up from about $4.4 trillion in fiscal year 2019. Spending was $6.6 trillion in 2020, and $6.8 trillion in 2021.

Not surprisingly though, Biden — even before his brain became tapioca — thought he knew economics better than Milton Friedman.