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So, in all seriousness, somebody explain to me: Why did we not see a damaging spike in inflation after the massive QE efforts following the 2008-9 Great Recession? Or at any time we've printed money like crazy over the last few decades? Why, since Carter, has inflation not gotten out of control in spite of everything?

It takes three things to make an economy run. Energy, Labor and Capital.

If any one of these become in short supply the economy slows and prices that were rising tend to level off and decline.

(The base that they sit on is effective governance. This is why you can see places that have all three in abundance be in poverty)

In the Carter years the energy input per dollar of GDP was quite high. The labor input per GDP was also high. Additionally, the dollar was destabilized as was juiced by Nixon’s fed chair. While there was plenty of money, it was debased.

In the Carter years labor still had contracts, 15 years later, labor was all but destroyed as a force and half the working age population was added to the work force as women not just entered the work force but entered as career persons to the work force.

Additionally, demographics had many many house holds forming.

Today, we have plentiful oil, plentiful labor (we can shift labor around the world with ease) and plentiful capital. Moreover, about half the world has an aged and declining population. This means less households forming so less demand.

The printing of money to fuel inflation is like trying to prime the pump
of a dry well.

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