The US money Supply (M2) was around 14.3 Trillion dollars in January 2019. It increased to about 15.4 Trillion in January 2020. In January 2021 it was at 19 Trillion dollars and in January 2022 M2 is at 22 Trillion dollars. Adding more than 25% more cash to the economy in a 4 year period with virtually no increase (probably a decline) in economic output is going to put tremendous inflation pressure on an economy.
M2 was at 10 Trillion in 2012. For there to be no inflation the economic output would also need to double.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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