Inflation was the concern at the time.
"Not in the short-term" but over the long-run was the phrase
9 months later & inflation is lower than when the pandemic started because velocity collapsed
2)
M1 money supply is rising at nearly 70% year over year
What is going on and does this mean inflation is coming?
Shorter Answer: No
Longer Answer: Not from the monetary channel
1)
Inflation was the concern at the time.
"Not in the short-term" but over the long-run was the phrase
9 months later & inflation is lower than when the pandemic started because velocity collapsed
2)
https://t.co/IOjiOnURxi
3)
Goods inflation (manufacturing upturn)
— Eric Basmajian (@EPBResearch) December 7, 2020
vs.
Services disinflation (social distance rules / changing consumer behavior). pic.twitter.com/mXEoI7OvEL
Right now, only condition #1 is satisfied which is why inflation is declining with record money growth.
4)
5)
Charted below we can see demand deposits are growing over 100% year over year.
6)
7)
To the extent the money is used to pay down debt, or used for basic needs like clothing, food & shelter, then M1 velocity will take another leg lower, offsetting inflation
8)
Using government debt to drive resources (away from investment) and towards consumption will not result in the inflationary increase many expect.
9)
In high-debt societies, the inflation rate is highly correlated to real GDP growth.
10)
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Fake chats claiming to be from the Irish African community are being disseminated by the far right in order to suggest that violence is imminent from #BLM supporters. This is straight out of the QAnon and Proud Boys playbook. Spread the word. Protest safely. #georgenkencho
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Be aware, the images the #farright are sharing in the hopes of starting a race war, are not of the SPAR employee that was punched. They\u2019re older photos of a Everton fan. Be aware of the information you\u2019re sharing and that it may be false. Always #factcheck #GeorgeNkencho pic.twitter.com/4c9w4CMk5h
— antifa.drone (@antifa_drone) December 31, 2020
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
There is a concerted effort in far-right Telegram groups to try and incite violence on street by targetting people for racist online abuse following the killing of George Nkencho
— Mark Malone (@soundmigration) January 1, 2021
This follows on and is part of a misinformation campaign to polarise communities at this time.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
