Tyler Matheson, CNBC's program director, was filling in for an anchor this afternoon.
As such, he showed remarkable ignorance of a debate on his own network when he pontificated that,
'in order to have inflation, wages or spending have to go up!'
For the millionth time, let's get it straight.
Friedman. Inflation. Monetary phenomenon.
"Inflation is always and everywhere a monetary phenomenon."
Sheesh. Can't these guys get anything right?
Only a committed Keynesian would still believe that inflation must always and only be demand-push in nature.
First giving that nitwit Levin a platform to show how inept he was and is this morning.
Now this.
How much worse can CNBC get?
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