If you have been shopping for just about anything then you have noticed all the price increases….and that my friend is inflation.
The Biden admin has said that inflation has hit its peak and that prices are coming down…..pause here for head scratching……really? Not something I have noticed….how about you?
But let’s hear what the Biden Boyz have to say about our inflation problem…..
The price of consumer goods rose by 6.8 percent over the past year, the Bureau of Labor Statistics reported on Friday, the biggest increase since the 1980s. “Essentially across the board,” as Vox’s Rani Molla and Emily Stewart write, everyday purchases from food to gas are costing more, and it’s going to be an expensive holiday season.
That part isn’t in debate. What is, however, is how worried everyone should be. In Washington, there’s sharp disagreement about what exactly is responsible for surging inflation, and what the government can — or should — do about it.
Some of the causes are fairly self-evident: Entering the third year of the Covid-19 pandemic, the US — and much of the rest of the world — is grappling with a supply chain crisis. That means most goods, from game consoles to oranges, are more difficult to get to store shelves for one reason or another, whether it’s a lack of critical tech components or a backup at ports due to labor shortages. But US consumers simply haven’t stopped buying, and that demand-supply disjunction has caused record inflation.
But talk and promises cann0ot curb the inflation problem…..and the people do not care….they just keep throwing their hard earned cash away without demanding some accountability…..
It was the summer of 1979, and President Jimmy Carter was up against it. Americans were paying far more for gas and groceries than they were the year before, and Carter was confronted with a choice: He could tell Americans that this was a problem the government could fix, or he could tell them to tighten their belts and persevere. He chose the latter. But prices continued to rise, and in 1980, Carter was defeated by Ronald Reagan in a landslide.
Things aren’t as bad as they were in 1979, but for many, the comparison is still apt. According to the latest consumer price index1 numbers, prices in November were up 6.9 percent compared with a year ago, the highest increase since 1982. And that comes alongside near-record-low consumer sentiment and a net approval rating for President Biden of -7.6 percentage points.2 Biden has said reversing inflation is a priority for his administration, and he has released strategic reserves of oil and announced plans to “relieve bottlenecks” to address soaring prices, but a difficult and uncertain road lies ahead.
It’s no secret that inflation is politically powerful. You can’t miss rising prices, and research has found that Americans care deeply about inflation. But the politics of handling it is messy, and should prices continue to rise, Biden has a difficult task. He faces a country that views inflation through a highly partisan lens — and that will judge his performance on the issue accordingly. If he ignores inflation, it could spiral as it did with Carter. But at the same time, should Biden react too forcefully, the cure could be worse than the disease.
People may bitch about the cost of goods but they do nothing to change the spiral of inflation……kinda like what the Biden admin is doing.
I told the blogging world that we were not getting a ‘savior’ with Biden and his win over the Orange man…..and stats prove my warning….
What to do? What to do?
Turn The Page!
I Read, I Write, You Know
“lego ergo scribo”