I live in SW VA and our gas has gone up about .40 a gallon over the last three weeks
Money is a substance created from nothingness on a whim from central banks.
This has always been so, but has been obfuscated until Bernanke began QE in 2009. That’s when capitalism failed. If capitalism were fundamental and powerful, there would be no reason for QE. But there is reason for it. The failure was so profound that people would have literally died when ATM machines stopped working because the banks ended. QE was necessary.
But . . . the substance comes from nothingness. Such a substance cannot be the basis for any LAWS of economics. There are no laws of economics.
That includes the presumption that increasing interest rates combats inflation. If you have such a law, then even one instance in history when it did not work, or the reverse took place, renders it a failed LAW and that is forever. Many examples of failure exist. If it fails once, it is not a LAW and must not be a presumed fix.
No, it has nothing to do with Bidenomics or Obama or anything else. It’s a failed system and it is being papered over.
For God’s sake, people, we have watched the media lie about things. We have watched all sorts of agencies and organizations lie and cheat. Why in hell would you presume any markets are pure? Any of them. I particularly laugh at currency exchange, as if that trading is immune to government interventions. Why would you think the Euro is worth XX dollars? Of course it’s not. Or the ruble? The exchanges are in countries hostile to Russia. Why would anyone think that is a clean exchange number?
And yes, this is happening with oil, too. KSA and Russia both have this year announced the price for their product will no longer depend in any way on any markets. They will specify price and buyer can pay or look for another source.
Gas is $4.45 a gallon in Salem, Oregon.