Its the same story in every country every time no matter what.
Interest rates are manipulated to record lows and the money printer is turned up to high to ensure the protection of the populace from evil deflation and hard times.
Inflation never arises and economists that were predicting inflation are ridiculed.
Eventually an excuse arises to print record amounts of fiat causing the central banks balance sheet to skyrocket.
Inflation begins to rise but is ignored and dismissed.
The expansion of the money supply increases aggregate demand simply because there is more money chasing the same number of goods available.
This rise in demand caused by money printing is inaccurately mistaken as a fall in supply and price rises are blamed on otherwise common natural disasters and other external factors out of the control of government.
After the natural disasters and other excuses have ended price rises continue so they get blamed on businesses who are labelled evil price gougers.
Price controls are put in place to stop businesses raising their prices.
These price controls prevent businesses from being able to make a profit so they go out of business.
As price controls destroy businesses this collapses supply causing prices to start rising even faster as food shortages begin triggering protests and riots in the street.
Finally central banks agressively hike rates to a level above the rate of inflation to reign it in. The entire time rate rises have been the only answer to controlling inflation.
At this point if you are a low debt country you face a deep recession and asset market collapse but can recover eventually. If you are a high debt country the rise in interest rates pushes government debt into a sovereign debt crisis and you enter the realm of Zimbabwe Argentina and Turkey with a deep recession and hyperinflation simultaneously.
I feel like there should be an easy to understand visual representation of this process so people can see in real time the lies that the government will inevitably spout to push the blame for inflation from themselves onto everyone and everything else.
The reason raising rates and reducing government spending is the answer to reigning in inflation is becuase lowering rates and increasing government spending is what caused it in the first place. Or as the famous Milton Friedman says "Inflation is always and everywhere a monetary phenomenon".
And the final step of course is no matter the outcome, recession or hyperinflation, saving your wealth in bitcoin is the answer to protect yourself and family.
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