OPINION:
Children engage in much “make-believe” to stimulate their imagination and creativity. Adults are supposed to distinguish between make-believe and reality. Yet increasingly, we seem to be governed by people who fail to understand the difference.
From 2020 through 2021, the money supply grew by 27%, the highest in our nation’s history. This money growth was far faster than experienced during WWII or any recessions over the last hundred years. We are supposed to make believe that such unprecedented money growth will not cause severe problems such as a great rise in inflation. Officials at the Fed and the U.S. Treasury Department first denied that inflation would occur and then, when it did, said it would be temporary. And now, those who engaged in this monetary make-believe are finally admitting there is an inflation problem — and…
