Incomes dropping / inflation growing
Core inflation, which excludes volatile food and energy costs
Yet it is those costs that hit everyday people in the face.
[Yeah, I understand the reason to exclude them...]
Only the government can take perfectly good ink and paper and turn them into worthless currency.
Disincentivize work, distribute hundreds of billions in free money, and watch the magic.
The old saying goes that economists only know how to make two things, shortages and surpluses. (Control the price of a commodity below its market price and you create a shortage. Above its market price and you create a surplus.) But that’s not fair, they also know how to create inflation. Simply increase the money supply faster than productivity, voila, you’ve created inflation.
The people who did this knew it would happen. They must figure that the short term electoral appeal of free money outweighs the long term economic damage.
“UNEXPECTED!”
And Wall Street responded Friday with substantial gains.
More of the main-street vs Wall Street disconnect.
Doesn’t matter - the RCP “poll” has Clueless Joe with an approval rating at 59% - the senile old fool can do nothing wrong in the eyes of the American sheep.
Looken sharp Democrats.