Lyn Alden on Bitcoin, El Salvador and the Unprecedented Macro Moment
The Breakdown
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Supply Chain and Price Inflation
Inflation is almost possibly at widespread price inflation without a rapid increase in the broad money supply. The other component is some sort of railwal constraint. When you have this kind of new market opening up, whether it's new land or new labor or something like that, you can have quite a big disconnect between money supply and price inflation. We essentially sacrificed resiliency for that efficiency. And so when weve finally got a shock to that system, we're kind of paying the price for disinflation.
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