Completely disagree. Inflation is not offering but deflation. Things are not going up in price contrary to the popular mantra. The last decade saw so much of the world wide economy start to fall under the laws of IT that the central banks had no choice but to throw money at the problem. At present, the central banks are still putting $200B a month into the economy. Without it, you would see the economy collapse along with prices.
Just look at what took place a decade or two ago:
How much is your long distance bill? Remember them?
How many minutes on your cell phone plan? How many texts? Oh they are unlimited?
Remember $100 per barrel oil? How about $140? Now, with an expanding economy, oil cant get over $60.
How much did it cost to rent 3 movies for a weekend at Blockbuster? More than your Netflix costs a month.
Do you spend $250 on your tax return if you are a W2 employee? Most use turbo tax...$80.
Do you remember the days of trading in a car at 50,000 because it would be dead at 100K? I do. Now 200K is nothing for a car.
How much do you spend getting your pictures developed? Zero these days...it was a lot more at the turn of the century.
At present, the US economy has a 3/4 of a percent deflationary pressure on it due to the laws of informational technology. As tech expands this will grow. This is something few are paying attention to. The Fed is doing all it can to get inflation. It dumped trillions into banks and got nothing. Ask yourself why that is?
By the way, the areas that are still inflating, medical being one of the main ones, is due to monopolies and government intervention. Nevertheless, the longer these entities remain in place, the more powerful their destruction when technology does eventually break through.
Inflation by definition is an expansion in the money supply. Its effect on prices is not simultaneous nor proportionate, but works its way through the economy over time. Nonetheless it redistributes property from the early receivers to the late receivers.
There is simply no need for a central bank to expand the supply of money. There is no "threat of deflation", as mainstream economic phobia teaches. Ideally, all prices are falling as the amount of goods and services provided outpaces the production of money. This is virtually impossible under an inflationist central bank.
To the contrary: their policies are the precise cause of the business cycle, which assures that there's another one coming in the future. It would be best for the central bank to stop inflating immediately.
And besides, prices (of assets) are rising. Stocks, bonds, housing, etc., have all risen greatly. The state's policies, whether inflation or taxation, affect relative growth and progress. They mean decline.
Are you suggesting that since tech prices are falling that this is "bad" for the economy, and that the government isn't inflating enough?