This is what happens when the dollar is backed by “the full faith and credit of the United States” and not the barbarous relic. Nixon abandons gold in 1971 and inflation launches skyward. It’s hard to believe that for most of the history of the United States inflation was next to 0%.
That the rate of crony capitalism has launched into the stratosphere at a commensurate rate with inflation is no coincidence. Fiat money is the mother’s milk of crony capitalism.