Flint, my point was that “inflation” is a scapegoat term for the simple result of “supply and demand”. The last two decades have left the average American with more money in his pocket than previously accustomed, the baby boomers are retiring with their recent inheritances and have reduced daily expenses since they’re no longer going-to-work and the pandemic of the last 3 years has idled many from ordinary activities of work, the internet-shopping experience has made the American Materialism run wild.
What is excessive profits? No such thing. It’s supply and demand. When lots of people have lots of money and lots of free time and lots of desire-and-means for materialism…that’s what’s going to happen…. and large corporations DO play the political game enthusiastically. We need to KILL CITIZENS UNITED.
Well.....'inflation' is indeed the label attributed to an imbalance of Supply and Demand. We have to call it something. And I don't disagree that term is often artificially separated from the former as if IT were a demon of its own making.
I would also agree that there are many sources contributing to inflation in any given time span. But in the last two years we have seen a sharp spike.
Normally inflation is just a general and fairly flat increase in the cost of goods and services and is easily weathered by most folks. But what we are seeing now (highest rate in 41 years) is something a bit different.
The sharp decline in the purchasing power of our dollar has reached a point where the average family is really feeling it. I would submit we are very much poised to see a recession.
I would hope this would cause people to THINK about the root causes of inflation, what wasn't avoidable and what WAS avoidable (or should have been).
Yes, we had a pandemic. But we also had a knee-jerk reaction to it which severely crippled this nations economy (and others) with ridiculous mandates. As a result of that....there is a global supply chain issue (Demand vs. Supply) as Nations begin to return to pre-pandemic norms.
Then we (U.S) had stimulus packages, which at first were probably appropriate to prevent a depression, but afterward did nothing but line the pockets of persons not really in need of it. You can't just print TRILLIONS of dollars, distribute it among the populace and not expect inflation once it starts to be spent.
Then we have fuel issues....a HUGE driver in the cost of transportation and goods in general. When you have an administration rabidly against the use and production of fossil fuels, making it more difficult at every turn, it forces the Oil Companies to protect their interests. This is common sense.
Crude Oil/Fuels are traded in 'Futures' (pricing for those products is decided on a future basis). When the 'future' looks to be uncertain (if not adverse) you can bet your butt prices will reflect that. Why in the world would an administration (anywhere) take an already crippled/limited oil/fuel situation and shoot it in the other foot!
We need to have competent people in important positions of our government and fewer idealogues.
And I couldn't agree more that Citizens United needs to go.
