These cases are not fearmongering to me because I lived in one version of them in the 1970s and 1980s in Poland. Even more, I was among the few warning that it could happen, the same way I warn the United States today. Hence, your nonchalant dismissal of my argument is just that. Medium’s statistics suggest that you disregarded the reasoning in my article about Argentina without even skimming it.

And yes, Stiglitz shows actual data supporting his ideological position. He missed what an ordinary engineer knows that one cannot stretch something endlessly. The national debt per capita almost doubled during the last 10 years. This is the real reason for inflation. Instead of being prosperous from productive work, Americans more than ever get from all forms of government welfare. Redistributing money not earned cannot be stretched indefinitely. COVID-19 caused an inflation peak because we have a weak economy.

The only way to revitalize the economy is by reversing our immigration policy. I wrote about that as well: How did Americans screw up immigration?