Folks, I’d really like an intelligent discussion on:
1) The major cause(s) of this inflation
2) What an intelligent government can do about it other than to rely on the Fed’s monetary policy.
you can flame Biden to your heart’s content while you’re at it :)
Uh, ain’t been any “sharp” gas price drops at out locale. In fact prices have been on the increase for the past two weeks. Guess the msm missed that eh? Not like they would deliberately lie or anything. 🤬
Gas is still far higher than when we lost our energy independence momentum the day Trump lost in the rigged election.
Americans should see that “way, way up” followed by just “way up” is not a wonderful situation——they’re still paying too much needlessly.
At least they now can leave their skateboards at home and use what remains from their bacon, hamburger and eggs budget to pay for some gas to get to the store.
The only reason gas prices are coming down is because people are spending their scant resources on must have items such as food and housing. Rents are increasing in most parts of the country.
In my East TN city wages are still ridiculously higher than 2 years ago. This cost is across 2 industries that I have personal knowledge of healthcare and fast food.
Once you hire someone at $14/ hr for a $9/hr job, that isn’t going down. I would like to hear from some small biz owners, it corporate costs of personnel are high. If it costs more in these 2 industries, may also be insurance companies which would add to the Employer costs.
Of all the drivers, this refactor minimum wage increase is what I see.
What sharp drop? Its still a minimum of $3.50 a gallon near me. I recall with fondness the trump era when it was just under $2.
Heating oil is still $5.50 and has prompted me to get an electric heat pump installed. I’m sure electricity is going to be more expensive than it was previously, but at 5.50 a gallon for heating oil, I’d end up spending $4400 to heat my house this winter.
I think Diesel is more important indicator then gasoline. Diesel and regular were usually close to par on price, then this hit and diesel was 90 cents more then regular. Now it is $1.20 to $1.50 more than regular. https://www.nationalreview.com/the-morning-jolt/why-diesel-fuel-costs-are-really-rising/. The refineries are shutting down. May not matter if you can get a real car (ice), may not have fuel to drive it.
So even as gas prices went down significantly, other prices must have gone up way more than expected. D*mn, this is hurting me and my family. What extra income we could generate this year has been wiped out by this.