“Instead of buying oil from the Mideast the world is buying it from America.”
I own energy stocks and I’m thriving. More rigs are going online. Do you think that the average schmoe cares about that versus the reality of his gas at the pump going from $2.98 to $4.47 a gallon?
Not to mention that the inflationary stress is killing bond prices. Today the 10-year Treasury hit 5.12%, its highest yield in 19 years. Think of the hundreds of billions that Americans owe on credit cards and other variable rate loans
Inflation happens because of the expansion of the money supply. It is a very clever hidden tax. Rather than raise taxes in an obvious way the Government merely creates more money to buy things. It takes awhile for that to reach equilibrium through the markets so the first ones at the spigot are the big winners . It is also one of reasons why the division between rich and poor widens. The poor get almost none of the benefits of this extra printed money, but they do get to pay more for the same stuff!