Oddbean new post about login | logout Arguing that "velocity of money" causes inflation (or has anything to do with it) is EXACTLY the same as a technical analyst trader thinking volume causes the price of a stock to go up. This is obviously nonsense once you understand the analogy.
Because velocity of money and volume are both symptoms not causes?
Add leverage to both analogies and, causality aside, the outcomes around both seem natural
“Velocity of money” is a fave in the current credit economy solely because of all the ticket clipping