Is there any evidence you know about to support your theory that the money supply is increasing, John?
I think such a statement makes more sense in a currency that is directly backed by some standard substance ó gold is the usual. If you look at our currency, it says, as I recall, "backed by the full faith and confidence of the United States Government." In a quick scan of five One dollar bills and a Ten dollar bill, I see no evidence of that right now, but the principle remains the money is worth what it says it is because people believe that it's worth that much, and most of the world agrees within a narrow range.
We are willing to trade our dollars for our goods at that rate.
Why are we spending more money for food?
Wish I could tell you for sure. I know that the food costs more, and that jacks up the prices we pay. I know that much because I have to buy gasoline like everybody who eats in this country and doesn't grow all their own food. We buy the gasoline to ship that food from point A to point B, and we pay the cost of hauling the gasoline from the point of origin to one of the refineries in this country and then to local distributorships.
We are also paying for not having the sort of regulatory controls we once had that prevented large ups and downs in markets in general and in specific for markets in commodities and power. This is the sort of unregulated marketplace that the right wing has been pushing for during the past thirty years, and the sort of worries that are being pushed to the fore in this thread are the natural outcome of such policies. That's what I think, John.