“Consumers don't produce inflation. Producers don't produce inflation. Inflation is produced only by too much government spending and too much government creation of money, and nothing else.” — Milton Friedman

“Consumers don't produce inflation. Producers don't produce inflation. Inflation is produced only by too much government spending and too much government creation of money, and nothing else.”
— Milton Friedman pic.twitter.com/f7gM4UbYSb

— Dr. Eli David (@DrEliDavid) November 24, 2025