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Cyr: Economics, politics and inflation

Inflation has a significant and potentially destructive impact on our military. Our military represents a substantial part of the federal budget. A significant portion of that budget pays for salaries, wages and retirement benefits, all of which are especially sensitive to the effects of rising prices.

With hyperinflation, the German public, committed to stability, became desperate. Adolf Hitler and the Nazi Party exploited that concern and won election.

The Trump administration’s pursuit of protectionist trade policies was predicated to some extent on the belief that America was too lucrative a market to face retaliation. Using the most detailed data set of bilateral trade flows constructed to date for the interwar period, this column shows that in fact the US faced substantial and widespread retaliation from trade partners

The Most Important Thing Biden Can Learn From the Trump Economy A “hot” economy with high deficits didn’t cause runaway inflation. President Trump sent plenty of mixed signals on Fed policy, but that didn’t make him wrong about interest rates during his term.Credit...Erin Schaff/The New York Times Published Jan. 11, 2021Updated Jan. 18, 2021 For all the problems that President Trump’s disdain of elite expertise has caused over the last four years, his willingness to ignore economic orthodoxy in one crucial area has been vindicated, offering a lesson for the Biden years and beyond. D...