I've just read a brief story on the BBC site about the homeless in Mongolia.It's a slideshow following a homeless family. In the middlish portion the assertion is made that inflation in Mongolia is caused by rising prices of food and fuel.No citizen needs to be an economist to know that this is not true; that it is in fact the reverse of the truth. Inflation as the name suggests is an enlarging of currency in general circulation that devalues that currency.
We all know that, or should.
This myth is circulated by American media as well.
There are a number of myths about money taken as fact by the general population.
What can be done about that?
What can I do?
I guess I could write a series of articles entitled, "Facts of Money" for the local newsletter that serves these tiny towns in the mountains of northern New Mexico.
I'll do that.
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