Dee Feat is in Dee Flation - part the fifty second

Just a reminder from Santayana:

Those who cannot remember the past, are condemned to repeat it.

So, I've plucked some part of Part 44 (aka, the Covid inflation problem) to refresh your memories; and don't have to re-write the wheel. Emporer Nero The Donald^© (better than Alexander the Great, Julius Caesar, and Napoleon Bonaparte) is dead set (and deadheaded, though not that old rock band version) on repeating the LBJ fiasco of guns and butter. And he'll blame the Chinese or the Democrats or Cuber (more on that is coming). Here we go again.

The Moneterists mantra is that inflation is solely the result of too much moolah in the economy, and therefore the only cure is to 'take away the punch bowl'. As it happens, sometimes it is true that excess moolah has invaded the economy, and resulted in inflation. In my short lifetime, the most infamous devolved from LBJ's "guns and butter" speech and subsequent actions. Excess real demand exceeded available widgets.

Q. Mr. President, from what you have outlined as your program for now, it would seem that you feel that we can have guns and butter for the foreseeable future. Do you have any idea right now, though, that down the road a piece the American people may have to face the problem of guns or butter?

THE PRESIDENT. I have not the slightest doubt but whatever it is necessary to face, the American people will face. I think that all of us know that we are now in the 5 ad month of the prosperity that has been unequaled in this Nation, and I see no reason for declaring a national emergency and I rejected that course of action earlier today when I made my decision.

I cannot foresee what next year, or the following year, or the following year will hold. I only know that the Americans will do whatever is necessary. At the moment we enjoy the good fortune of having an unparalleled period of prosperity with us, and this Government is going to do all it can to see it continue.

Which then got us the Volker destruction. It took some time, abetted by Nixon of course.

So now, according to Bone Spur Samurai^©, this isn't a forever war, his monuments to his monumental ego don't matter, tax breaks for the rich don't matter, and K-shape economy doesn't matter. The price of gas will drop through the floor, along with everything else, the instant the War is Won and Hormuz is instantly "open". He'll likely fall asleep then, just like at the Knicks came. The little people, black, brown, and white will take it in the neck. As usual. He, of course, gets all the butter.