Beware the Doomsdayers & GOPravaricators
headlines are screaming, "Inflation highest in 40 years!" And that is
true for the last few months; a few months does not a trend make.
Several respected publications believe this is a blip, not a trend.
Economic giants like The Economist think this will be short-lived; we'll see and know by the 3rd quarter reports.
Also, understand that (a) this is happening worldwide, not just in the U.S., and (b) the GOP will scream it's all Biden's fault. I hope the GOP will explain how Biden's administration of this nation, which has been nothing short of masterful given the pile of shit he was handed by #45, is responsible for inflation rates of the European Union or Brazil.
factors are driving the current inflation numbers, which, by every
reliable forecast I've found, show it winding down through 2022. The
pandemic, bungled horribly by #45, has blown a hole in the economy
worldwide, with plants closed, workers dying, and the supply chain
almost crippled. Russia's despotic and illegal invasion of Ukraine has
created a price bubble for oil and gas products. It costs the U.S. and
the world extra spending to combat Russia's aggression.
third factor I would point to is that many businesses and corporations
are owned by wealthy people who vote Republican in the U.S. They had two
motivators to jack up prices and screw the consumer. First is their
greed, and with the pandemic as an excuse, they are artificially
increasing costs. Their second motivation is that if inflation continues
in the 7-8% range, the GOP will try to ride that horse to victory in
November. I find very little evidence to convince me that most of these
billionaires are either compassionate or patriotic unless doing so feeds
their bottom line.
No, you say? Take that QAnon nutcase, the Pillow Guy. Don't you think he would raise prices to get his BFB reelected if he could? Koch Industries, an avowed den of ultra-conservatives with immense power to influence prices, would do this in a heartbeat. Others, like Walmart, Amazon, Google, just about every oil magnate in the U.S., and even some outside the U.S., would rather have an autocratic conservative in the White House than Democrats who believe in democracy.
I'm saying is to keep your eyes and ears open. Look at more than one
source for information, and whatever you do, don't turn to Fox Faux News
for anything. They are floundering around in the pocket lint of the