I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid. But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
High inflation cycles followed by lower inflation cycles have really been a common part of our overall fiat inflation trajectory, obviously, inflation is imminent for Economic growth in fiat economy and it's obviously never going away no matter what. Also printing in COVID Times is really tough for the government but a necessity, while some people even on the forum shout that they should get a COVID stimulus from the government but when it comes to money printing they hate inflation, this is the very basic economics, if you want more money and pay fewer taxes the only resort is to print more money.