In practice, all inflation originates with the central banks
My comment was addressed to this statement you made.
no amount of demand pull inflation could have caused them.
While this is true so far in our history, the world has yet to see a total collapse of production units. Should there come a time production becomes impossible for whatever reason, just watch inflation kick in for the goods that do remain in the system. Economics 101 - no supply with a demand present equals an infinite price.
Posted Using LeoFinance Beta
My fear is that we may be the poor suckers to witness that event.
Posted Using LeoFinance Beta