Paul Krugman repeatedly says that inflation is fine other than food and housing.
People who couldn't afford it always bought luxury goods. What does that have to do with food or housing inflation? People are spending less on Christmas gifts this year, your assertion has nothing to do with anything.
No matter your understanding on inflation, the food inflation is fucked. Whether that's under-production, rent-seeking at various levels of food production, etc.
Paul Krugman repeatedly says that inflation is fine other than food and housing.
People who couldn't afford it always bought luxury goods. What does that have to do with food or housing inflation? People are spending less on Christmas gifts this year, your assertion has nothing to do with anything.
No matter your understanding on inflation, the food inflation is fucked. Whether that's under-production, rent-seeking at various levels of food production, etc.