What causes inflation? Economists Radhika Desai & Michael Hudson explain
Geopolitical Economy Report
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The Hudson Paradox
More money and credit is used to bid up asset prices for housing and retirement income. That puts downward pressure on consumer spending, says Julian Zelizer. 99% of the population doesn't spend as much because they're diverted to pay for access to assets or monopolize goods that are subject to protectionism or warfare.
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Transcript
