Spending represents at least 60% of the GDP of nations. Currently, spending is being inflated by the flow of free money.

The production of goods and services has declined during Covid and the enhanced spending from free money is hiding the truth. Hence the supply shortage. Plenty of money but a reduced supply of goods, and services.

In the free money era, GDP numbers of all nations are bogus.

Laugh till you cry wrote on Apr 27^th, 2022 at 2:08pm:

Spending represents at least 60% of the GDP of nations. Currently, spending is being inflated by the flow of free money. The production of goods and services has declined during Covid and the enhanced spending from free money is hiding the truth. Hence the supply shortage. Plenty of money but a reduced supply of goods, and services. In the free money era, GDP numbers of all nations are bogus.

Of course governments had no choice but to issue "free money", when they thought (at the beginning of the pandemic)  they would have to lock-down their economies for a considerable period.

Turned out covid-19 was more of a nuisance than a killer.

A Pity.

A contagious and deadly virus would have forced governments to issue "free money" for such a long period of time (eg a couple of years or more)  that even those people with the least knowledge of  how money is created would have learnt that money is always created out of nothing, whether in the private sector as at present, given that governments are forced to tax or borrow from the private sector, or in the public sector, as should be the case, given that the legal currency-issuer has the capacity (via treasury and CB)  to issue debt-free money.

See the MMT thread, post #131 (and links at the bottom of that post) , to learn more about modern money creation. 

https://www.ozpolitic.com/forum/YaBB.pl?num=1645944963/120

The free money I got for a year from the government is getting paid back little by little with inflated grocery and fuel prices this year.

UnSubRocky wrote on Apr 27^th, 2022 at 4:40pm:

The free money I got for a year from the government is getting paid back little by little with inflated grocery and fuel prices this year.

Quite so.   But inflation itself is fraudulent, designed to lower the purchasing power of your money.

Note: the same goods and services exist (as well as  the nation's productive capacity) regardless of inflation, proving inflation is due to fraudulent manipulation of the 'value' of money by private banksters. 

Money should always have a fixed price, while demand for goods and services should be regulated by price controls and rationing, when necessary (or judicious use of sales taxes). 

The whole bankster-controlled debt-money system is a sham.