#Inflation surging everywhere (with both money supply surges & disrupted supply chains):
- Wheat & canola surging prices
- Timber & copper
- Single-family & residential apartment prices
- Fruit, veggies, & meat
- Consumer goods (from diapers to mattresses)
- Bicycles & cars
#MMT

Between pandemic and dangerous #MMT idea that printing money and fiscal deficits no longer matter, we are seriously disrupting economic (business, monetary & fiscal) fundamentals which will have huge short and medium-term economic and POLITICAL consequences.

While some FEE articles/writers are too dogmatic to reflect complex political economy implications of various policy alternatives, this article does a good enough job to lay out how political incentives makes #MMT too removed from reality to work: https://fee.org/articles/modern-monetary-theory-is-a-recipe-for-hyperinflation/

Additional signs of a deeper inflation hitting the global economy: iron ore prices. Great thread about how prices shifted from annual negotiations to the spot market. https://twitter.com/JavierBlas/status/1387408946374356993?s=19