Cunningham, Kansas
October 30, 2022
This morning I was thinking about the Oil Embargo of the 1970s. Among the elements of our response to that was the Feds reducing the speed limit on highways and encoring us to combine trips/drive less, and make sure our tires were fully inflated. The goal was to reduce demand.
Wouldn't a similar approach work with inflation? If inflation is too much money chasing too few goods, what if we became frugal and therefore there was less money chasing goods? Price of steak gone up too much -- don't buy it. Aren't we -- "the consumers" in part (the other part being money supply) part of the problem?
Another upside of this approach is it feels good to be part of the solution!
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