Posted on 06/20/2022 6:58:18 AM PDT by Red Badger
Biden has caused the rise in prices in America. He did it in at least three ways. But printing more money is not one of them. Or not directly as people are assuming. He did it first off by attacking the oil industry from day one. He shut down pipelines. He attacked the permitting process. And he did what he could to malign the oil industry as well as the natural gas industry that replaced coal and nuclear. Cheap oil and natural gas has been a boon to the economy. Goods were created cheaply and shipped cheaply. Plus consumers paid less at the pump and heating their homes. Even electricity which is largely made by natural gas has doubled in price making everything else more expensive. The price of energy is the largest contributor to smaller consumer pocketbooks and higher prices of goods.
Biden also did what he could to keep workers out of the work force and raise worker wages. Some of this is from the pandemic as foreign workers were forced home. Lots of Chinese, especially had to chose between America and China. Many of them went home to stay. So professional workers, especially in the tech sector have seen their wages sky-rocket. The people streaming across the border are not adding to the workforce in any meaningful way.
Very low interest rates have allowed companies to grow even without profits. And home buyers to afford homes at much higher prices while building materials prices and worker’s wages have made new homes very expensive to build. Governments have borrowed throwing fuel on the fire by building roads that are not needed and all sorts of business parks that will never be used. Yes there are bad roads. But those don’t seem to be the ones being rebuilt.
And lastly we are decoupling. Chinese goods are less cheap. Chinese companies are buying out North American food. Parts especially things like chips for cars are hard to get. Trump started this but much of it is still there under Biden. The tariffs are still there as they should be. And they are raising prices too.
Printing money has its own issues but it is not causing inflation. Look at Gold, Bitcoin, Yen, Euro, Yuan, in all those cases the dollar is as good or far better than when Trump was in office. Stores of wealth are all equal or worse than the dollar. But materials like oil and wood are in short supply. That’s not inflation from too much money supply. That is inflation from an economy that is demanding more resources than can be made. You take Russia and Ukraine out of the mix and prices for food and oil soar even higher.
When interest rates come back into effect, along with the higher wages and energy prices, you will see the economy slow. And that will bring down prices. At least for some.
“I am of the firm belief that approximately 1/3 of Americans a Communists....................”
There are idiots in my home town saying how great a job that Biden is doing.
Biden deserves the blame... and his goons.
Anyone who can do that to you can make you do anything, for example surrender yourself voluntarily to slavery or commit any atrocity.
This was George Orwell's warning (1984):
Even a complete idiot would know that driving up gas prices to make people go electric would cause widespread inflation across the board.
But no...Biden and the Democrats think their REALITY is different that ours. What concerns me the the total lack of effort the Democrats are doing to try to stop the price of gas and inflation, indeed they are doubling down and attempting to shut down more oil related pipelines, electrical generation and the price of natural gas also.
Its like they don’t care if they will lose the next election???
Fixed it for you
“It's so bad I called the suicide hotline. They put me on hold!’’. Rodney Dangerfield.
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