Posted on 05/17/2022 4:53:19 AM PDT by ChicagoConservative27
On Monday’s broadcast of MSNBC’s “MTP Daily,” Senate Majority Whip Sen. Dick Durbin (D-IL) stated that “we’re dealing with a transitional economy, coming from a shutdown economy under COVID-19, reemerging, creation of jobs at record levels, but with it, comes the fires of inflation.” And there’s also “a lot” of price gouging.
Durbin stated that poor poll numbers for Democrats reflect “history’s reality that off-year elections are not kind to the president’s party. That’s the starting point. Secondly, we’re dealing with a transitional economy, coming from a shutdown economy under COVID-19, reemerging, creation of jobs at record levels, but with it, comes the fires of inflation. Every family’s feeling that. They want to know that Democrats are going to do something to change it. The president has used several tools in his kit. For example, releasing oil from the Strategic Petroleum Reserve was one, dealing with agricultural prices is another. There will be more jawboning, if you will, of those who are price gouging, and that’s happening at gas stations. It’s happening with baby formula. We’re finding a lot of that insidious activity taking place. So, we need to be identified with that effort and helping families find an affordable place where they can deal with this economy.”
(Excerpt) Read more at breitbart.com ...
I used to think these people had no real clue about economics but now I know that they do understand economics and just want to wipe out the middle class.
adAdd GLOBAL WARMING to your list.
And there I was trusting my education again. I just needed to listen to a Dick and that fixed everything.
The government (FDA) shut down a large plant that produces baby formula for no good reason.
Inflation is a monetary phenomenon created by Washington.
They used the same strategy for domestic oil production. In both cases it worked, it created scarcity and punished Americans..
Folks,
We can have some price gouging but it is available when we want it
OR
We can have price controls and we stand in line.
CHOOSE................................
Oh. I am so tired of hearing the name Dick Durbin. How does an idiot like him keep getting reelected for so many years?
Inflation = too much money chasing too few goods. Simple as that.
WHY is there too much money, and WHY are there too few goods?
Giveaway money was just scattered to the winds, so to speak, with much of it going to individuals and institutions that had no need of it, or who could not use it judiciously.
Too few goods is a little more complex, as there was a combination of effectively taking millions out of the work force, either through shutdown and layoffs, with unemployment compensation set to such a level that it is a disincentive to take any available job. Add the fact that the supply chain was interrupted for a number of factors, not the least of which here was nobody there to process the supplies, nor anybody available to deliver these supplies, all during the lockdown and beyond. Included in this is the re-introduction of regulations that had been lifted, and restrictions put on the search for, extraction, processing and delivery of energy to consumers.
Energy is the lifeblood of orderly commerce. Reduce its availability, and the strangulation of the economy is a certainty.
Artificial scarcities ore the hallmark of command-and-control regimes. Authoritarian regimes, no matter what designation they apply to themselves, are all similar in their response to problems - first the inflation, then finding some excuse to go to war and steal from their neighbors.
Yeah I know its a trivial thing, but to claim that prices are ONLY going up because costs are is not entirely true. Someone sees an opportunity to get more for their product god bless them. There does come a point though that one could consider it “goughing”.
That said, am I in favor of some sort of price controls?. no absolutely not! But lets not pretend.
The general public is justified using the same office-cost increase that Congress voted for itself. What was that, 20%?
More Keynesian Theory BS....just the opposite.
12. Racism
My understanding is that inflation leads to recession and a bunch of people lose their jobs. My employer is not going to increase my pay 13% to match inflation, which means I have less money to spend. It all rolls down hill from there.
“There is also a bunch of stupid coming out of your mouth.”
I agree with some of what he says.
The spending to “save us” from COVID along with the slowed-down economy during that period certainly has produced inflation.
It was “spend now, pay later” where the inflation is the “pay later”.
Democrats have zero clue what a market is or how capitalism works. It’s a clear indication that they are hideously stupid.
Food prices going up. Farmers price gouging. /s
Another Democrat who could NEVER even run a lemonade stand or a lawn mowing business.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.