The Mystery of Inflation (Pocketbook Pain!)
Jimmy Akin's Mysterious World
00:00
What Is the Role of the Government in Creating Inflation?
The United States has experienced constant, average inflation over the last 100 years. A dollar in 19 21 was worth 15 dollars and forty five cents to day. Today a modern dollar is worth just six and a half cents by 19 21 standards. The government expands the money supply, it causes inflation which causes pain, which causes them to expand the money supply again, which causes more inflation.
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Transcript
Listeners have noticed that when Jimmy Akin mentions how much something cost in the past, he says it's due to "inflation the government has caused." Now he and Dom Bettinelli are going to explain why he says that, what inflation is, why it happens, and why Jimmy says the government is responsible.
