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The Nomad Economist: The Worst Kept Secret in America High Inflation is Back

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The Nomad EconomistPremiered June 6, 2021 To most people, “inflation” signifies widespread rising prices. Economists have long argued, as a matter of technical accuracy, that “inflation” denotes an increasing money supply. Frankly, though, most people don’t care what happens to the supply of money, but they care a lot about the prices they pay, so I’ll focus primarily on the numerous rapidly rising prices Americans are paying today. Following are several examples of the current inflation. Corn, soybeans, and wheat have been trading at multiyear highs, with corn having risen from around $3.80 per bushel in January 2020 to approximately…

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Restored Republic via a GCR: Update as of June 7, 2021

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