“The obvious reason for inflation is the government printed a zillion more dollars than it has. Velocity of money held constant.”

This is what @elonmusk said on inflation.

But you& #39;re wrong Elon, please see the graph below, velocity is NOT constant

Not only is it not constant, it& #39;s lower than ever, and ever since QE it broke its correlation with the employment-population ratio
@elonmusk

Also, keep in mind that all those dollars "printed" ended up in the banks, not the real economy.

The fiscal stimulus arguably had a bigger inflationary pressure here.

See the comparison btw base money and money in bank reserves @elonmusk