Fed's Waller: War is unlikely to cause sustained inflation

In 1984, George Orwell describes perpetual war as a deliberate, continuous, and fabricated policy designed to maintain the Party's power. It is not meant to be won, but rather to consume surplus industrial goods and keep the population in a state of fear, ignorance, and poverty, thus ensuring social stability.

Key points about the perpetual war in the novel include:

"War is Peace": The constant conflict acts as a stabilizing force, creating a false sense of security and unity among citizens against a common enemy.

Internal Control: The war is not fought against external enemies (Eurasia or Eastasia) but is actually waged by the ruling group against its own subjects to maintain the social structure.

Economic Strategy: It consumes the surplus of human labor without improving the standard of living, allowing the Party to keep the population on the brink of starvation.

Psychological Tool: It fosters a "special mental atmosphere" of fear and hysteria, making it easier for the Party to control citizens.

what a special type of idiot

Sustained war will cause sustained inflation.

What he should have said was, there'll be an interim spike in cost of living as we transition through this period. Once through the transitional stage we'll be better placed to assess and set policy going forward with a leaning to softening, so BYO vaseline.

There's only so much a turd can be polished.

Will gold fall or rise?