A lot of lefties like multimillionaire equity warrior Paul Krugman keep saying “What’s the big deal about inflation?? It isn’t that bad! It’s coming down fast!”

I suspect lefties learned this at Harvard, and when you have a chance to blame Harvard for something, chances are you’ll be right. In any case, Harvard is practicing massive grade inflation, such that the hardest thing about Harvard isn’t the coursework—it’s getting admitted in the first place. And when you see the trend displayed here, no wonder lefty elites think inflation is no big deal because at least the Harvard-based elites have benefitted from it.

Too bad there isn’t an academic equivalent of the Federal Reserve to reduce the “money” supply of inflated grades.