Inflation Myths #3

Or, Miller's Theory of Relativity

This will be a bit of a short post, as I’ll be skipping out on the actual theory of inflation in favor of pointing out what isn’t inflation.

If you follow me on Twitter you might’ve seen me getting very angry about this post, so let me explain why it’s wrong:

Inflation is a general rise in the price level. There’s many ways to measure this, but we know it exists. Inflation is not change in individual prices. What those price changes represent is merely supply and demand, scarcity and abundance.

Additionally, you’ll notice NFTs on the list. This is another inflation fallacy. Asset prices aren’t really ever dependent on inflation (tech people still haven’t figured this out), especially for assets like NFTs that don’t really have basis in reality.