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The Misery of Austerity with David Fields

Macro N Cheese

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The Monetary Policy Fund

David Frum: Inflation is actually cost push markup. He says it's caused by supply chain bottlenecks, rising after COVID and entities taking advantage of that bottleneck. The only way for business to make up for the increased cost of the means of production, which is finance in this case, is to either lay off or engage in nominal wage suppression," he says. "It's not full employment; It's just having labor pay the cost"

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