Monetary Roundabout

I'll be the roundabout
The words will make you out and out
--Yes

One of the greatest tricks that monetary bureaucrats have pulled over the past 100 years is shifting the definition of inflation from the cause (expansion of quantity of money and credit) to a potential outcome (increase in prices).

Policymakers have also convinced people that the only meaningful inflationary price increases are those that effect some goods and services. Increases in the prices of housing, food, and energy are not part of 'core inflation,' we are told.

We are also told that increases in price of financial securities (stocks, bonds, etc) are not inflationary.

Monetary deception is a primary reason why the chasm between poor and rich is unnaturally widening. More money and credit destroys purchasing power and increases debt burdens on those at the bottom of the economic pyramid. Those at the pinnacle get richer as they get first dibs on the newly minted cash.

It also drives the boom/bust roundabout.