Nixon instituted inflation as we know it because of the Vietnam War, and inequality skyrocketed. It's a lot easier to strike with savings than with credit scores.
Americans don't believe that inflation is a global issue. They think it's a new thing called greedflation [because our country and our time period are exceptional].
It's because the official inflation numbers have always been bullshit. We don't care if TVs and beer are cheaper, we care if tuition and housing are cheaper.
Their idea of stimulating the economy is forcing the working class to invest in businesses if they want to retire at all. The burden of a tax always falls on whichever side of a trade is less able to pass on it. In our case, that means the cost of inflation is added to your credit card rates, to your mortgage, and to your student loans.
Nixon instituted inflation as we know it because of the Vietnam War, and inequality skyrocketed. It's a lot easier to strike with savings than with credit scores.