Inflation is always and everywhere a progressive phenomenon

Excerpt from a text conversation with a young “democratic socialist”:

DS: Every time the US has become progressive, the right wing and the “centrists“ said the policies were too unrealistic, but the civil rights movement still passed, and FDR is currently looked at as one of the best presidents of the past hundred years

WC: Some times the right wing and the centrists are right. LBJ’s Great Society has trapped millions in multigenerational welfare dependency. Obamacare has made health care unaffordable and is bankrupting both families and the US government

LBJ’s Great Society (and the Vietnam War) was what forced the US government to break the gold standard under Nixon, leading to all subsequent inflation crises. Inflation and all the recent unaffordability issues are entirely a progressive creation.

Progressives always think everything is “affordable” to the government because we can just print more or tax it from some place we haven’t done the math on. So you get what we have here today.

Progressives have a very short-term view. They always want government to do more, more, more right now without having any idea about the long-term consequences.

Incidentally, income and wealth inequality is also a direct result of asset inflation caused by that same thing, US having to create inflation in order to fund progressive spending.

Capitalism was working great for the middle class before 70′s, and especially before the 2000′s.

What changed? Deficit spending and inflation.