American Elephants


Bidenflation, Causes and Cures? by The Elephant's Child
July 13, 2022, 4:43 pm
Filed under: Politics

Breitbart headline:“Bidenflation Much Worse than Expected: Consumer Prices Rise 9.1%” If you have shopped for groceries, you have probably noticed! The Department of Labor said this is the highest rate since 1981. Economists had expected CPI to rise at an annual rate of 8.8 %, so it’s even higher than expected.

Grocery store prices were up 12,2 percent annually and one percent for the month. Energy prices are up 41.6 percent annually and 7,5% since May. Gasoline prices jumped 11.2 percent in June compared with May for a 59.9 percent year over year increase. From Breitbart:

Inflation only began to accelerate last March after years in which it typically came in below the Fed’s two percent target. The Fed had decided to keep interest rates low in 2021 although the economy was recovering at a faster than expected rate. What’s more, the Biden administration pushed through billions of dollars of deficit spending in the American Rescue Plan. These combined to fuel demand for goods and services faster than supplies could expand, pushing up prices.

The public’s perception of President Biden’s competence has collapsed. Many Americans interpreted the administration’s confidence that inflation would pass to be a sign that it did not care about the hardships inflicted upon families paying more for gasoline, groceries and Fourth of July cookouts. Recent polls have shown that Biden is now the least popular president in 75 years.

There’s a point at which even those who don’t pay a lot of attention to the Federal Government sit up and take notice, and it’s when it starts hitting the family pocketbook. Mr. Biden seems unaware of the problem. He is beginning to take notice, however, in his rapid decline in popularity. They’ve tried to blame higher prices  on “corporate greed”  You probably noticed when he tried to blame the rise in the cost of gas on Gas Company gouging rather than rather obvious mistakes like shutting down the XL Pipeline, putting pipeline workers out of a job and dependent on Federal Welfare.  Nice Going!  The Fed will be fighting inflation, raising rates. We’ve been there, done that. Wish somebody learned something from past experience, but that is apparently too much to ask.

You might want to pay very close attention around the upcoming election to what the candidates know about inflation and its causes,  We probably won’t learn much, but it’s worth a try. And might well be a good guide for your vote.


3 Comments so far
Leave a comment

Inflation was artificially created by the Federal Reserve buying trillions in US bonds at artificially set low interest rates. If they had not interfered in the markets through this purchase, interest rates would have risen on their own due to competition with other sellers of bonds. The result would be the Congress curbing its insane spending spree. The Fed made the same arrogant mistake that Weimar Germany, Argentina, Zimbabwe and Mexico did leading up to their hyper inflationary periods.

Compounding the government’s mistakes was driving up the price of oil on purpose for a transition that isn’t ready for decades to come.

The solution is to unwind both positions. Cause and effect.

Liked by 1 person

Comment by dscott8186

Have you considered running for Congress? We do need a little sanity there!

Like

Comment by The Elephant's Child

I’ve been asked that before and I’ll give the same answer:

You don’t want a person like me to be in power, because I would hunt down all of the self serving power hungry hacks and hang their bodies from the lamp posts from DC to NYC. …and yes, it would literally take all of the lamp posts to accomplish that task.

I am committed to the path of non violence and therefore influence from the sidelines.

As I see it, virtually all of the policies implemented by the left are from personal greed and a dysfunctional need to be in control. Therefore virtually all of the deaths, rapes, and mayhem we see are an act of criminal negligence on their part. Liberalism is not an ideology, it is a scripted PR campaign to enrich the well connected. That is exactly what Socialism is all about. President Madison warned us about these self serving greedy people and their methods in Federalist Paper # 62.

Expose their self service and you foil the PR campaign.

Like

Comment by dscott8186




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s



%d bloggers like this: