Is protectionism not inflation.
Yes prices are going up, but the extent to which they are a factor in poverty as compared to the inflated value of goods compared to what it would be without regulation and misallocation is minimal.
I'm not saying inflation isn't bad. I'm saying that the reason the fed creates asset bubbles or inflates the currency in the first place is that it's the band aid for the underlying problem. Which is that the US economy is so burdened by inhibitors to wealth creation that there is no other way in our system to grow the economy.
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