For me this is the saddest part. In my country for instance a lot of inflation is being driven by high electricity prices. This is very dangerous because it feeds into almost all input costs. As a result many businesses have no choice but to raise the prices of their goods and services.

In Turn as you have pointed out a consumer’s response to these increased prices as to simply stop purchasing these goods and services.

As a final result so many small and independent businesses are simply going to close down, many people who took a chance trying to escape from the rat race, small mom-and-pop businesses or long-term independent businesses that have been around for many decades are all going to close, some will lose everything.

Just for this reason I feel central banking is truly evil and I cannot wait to replace a small group of people with a totally disproportionate amount of power over society with a system much more akin to a vending machine or traffic lights. I.e. predictable.