There is one characteristic common in Americans that may ensure their doom in the fight against the current inflation they are facing: their own willful ignorance. While it has been stressed by many (including this aurhor) that economic shutdowns imposed by the Federal and State governments, along with historic mass money printing by the Federal Reserve during the CoronaVirus hysteria were the main catalysts for the inflation we have today, another driving factor for this current inflation has been largely ignored: the stimulus checks.
These checks became popular during the CoronaVirus hysteria when President Trump signed the COVID relief bill back in December 2020, starting the trend of and setting the tone for more spending, taxing and printing in the name of economic “relief.”
On these checks, Jeff Deist writes: “These pumped more than $5 trillion directly into the economy in the form of payments to government, payments to households, unemployment benefits, employer payroll loans, cash subsides to airlines and countless other industries, and a host of grab-bag earmarks which had nothing to do with COVID.”
While many people praised these stimulus checks and saw them as the greatest gift ever given to them by their government, what these checks actually ended up causing was, you guessed it, more inflation!
These checks became popular during the CoronaVirus hysteria when President Trump signed the COVID relief bill back in December 2020, starting the trend of and setting the tone for more spending, taxing and printing in the name of economic “relief.”
On these checks, Jeff Deist writes: “These pumped more than $5 trillion directly into the economy in the form of payments to government, payments to households, unemployment benefits, employer payroll loans, cash subsides to airlines and countless other industries, and a host of grab-bag earmarks which had nothing to do with COVID.”
While many people praised these stimulus checks and saw them as the greatest gift ever given to them by their government, what these checks actually ended up causing was, you guessed it, more inflation!
