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Dick Eastman
Dick Eastman
July 26, 2021
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They call it inflation, but this QE (Fed buying securities) is not putting money in consumer hands, is not raising consumer demand. Today’s CONSUMER AND PRODUCERS’ GOODS PRICE INCREASE ARE CAUSED BY DEFLATION (less money in consumer hands, less aggregate demand, reduced sales revenue) forcing firms to raise per unit price to cover fixed financing costs, fixed rent, fixed labor and regulatory outlay requirements. This QE is not raising aggregate demand in the domestic real economy — it is giving the lords of big finance the liquidity for buying up industrial and other assets as they are forced on the… Read more »

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