If you pull up the inflation numbers...for the previous five years, it was around 1-percent...this year, it’ll be around 1.8-percent, and the 2019 numbers are looking at near the same rate. Toss in the fact that the drought in central Europe has bumped up vegetable and fruit prices..it’s gotten to the working-class French guy. So bringing on this tax at this time....was a stupid idea, with no real gain except pushing people to buy expensive battery-powered cars.
Confession: I have posted over and over that the powers that be would prevail against the debt in the time honored tradition of inflating it away. I was wrong. The Fed is not permitting the inflation
Conclusion: The debt is the Fed’s fault
What is Core Inflation and Why Doesn’t It Include Food and Energy?