Peter, there's a nagging question that I have on this subject and have yet to see it addressed. If it has been please let me know, or maybe consider doing an article about it. The administration keeps telling us that inflation and shortages are due to Putin's actions. If you accept that to be true (it's not, or I should say not to the extent they would have us believe) then doesn't the beg the question of why we have allowed ourselves to be in that position. They can't have it both ways- if it's Putin's fault then why haven't they done anything about it? How have they allowed the US economy to become so fragile that what essentially amounts to a border war (apologies to the casualties, not trying to be callous) on the other side of the world impacts us so severely? I would love to see someone in this administration answer that question. I would surmise that the biggest reason is the climate/green dogma that drives so much policy these days. Would love to hear your thoughts on the question that will never be asked by anyone not named Doocy.
"the administration keeps telling us that inflation and shortages are due to Putin's actions"
Jeffrey Pelt : Listen, I'm a politician, which means I'm a cheat and a liar, and when I'm not kissing babies, I'm stealing their lollipops.
The only impact of the Ukraine war over on this side is, near as I figure, the price of oil, which did indeed spike, but to blame this for the systemic inflation we're seeing is pure gaslighting.
Inflation is, as the great Milton Friedman told us, "is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."
The government (and this includes Trump) printed an unfathomable amount of money the past couple years. The chickens came home to roost - too many dollars chasing too few goods and services (i.e. the money supply growth rate vastly outstripped GDP growth), so voila, inflation. It's the simple and proximate cause, and the rest of it is deflection.
For them to admit this would require them to disavow all their grand spending plans, including Build Back Better (even though its' DOA thanks to Manchin, the party needs to keep insisting it's committed to it). The Dems are still marching to the far Left's orders, despite the nation's rejection of them. Part of that is Modern Monetary Theory, which is being debunked in real time by the inflation we're seeing.
In short, they are lying to you because that's what they do and because admitting the truth would undermine their grand plans. That those plans are simple fantasy, given the current gridlock and the impending midterm losses, is neither here nor there. Some of them actually believe that they can win in November by jamming a big spending bill through, and that such a bill won't add to inflation. Those same people quite possibly believe that the Moon is made of green cheese....
Very well thought-out, Peter! Cheers!
It would appear America's resources are taxes and regulation. Too bad we can't export these.
Peter, there's a nagging question that I have on this subject and have yet to see it addressed. If it has been please let me know, or maybe consider doing an article about it. The administration keeps telling us that inflation and shortages are due to Putin's actions. If you accept that to be true (it's not, or I should say not to the extent they would have us believe) then doesn't the beg the question of why we have allowed ourselves to be in that position. They can't have it both ways- if it's Putin's fault then why haven't they done anything about it? How have they allowed the US economy to become so fragile that what essentially amounts to a border war (apologies to the casualties, not trying to be callous) on the other side of the world impacts us so severely? I would love to see someone in this administration answer that question. I would surmise that the biggest reason is the climate/green dogma that drives so much policy these days. Would love to hear your thoughts on the question that will never be asked by anyone not named Doocy.
"the administration keeps telling us that inflation and shortages are due to Putin's actions"
Jeffrey Pelt : Listen, I'm a politician, which means I'm a cheat and a liar, and when I'm not kissing babies, I'm stealing their lollipops.
The only impact of the Ukraine war over on this side is, near as I figure, the price of oil, which did indeed spike, but to blame this for the systemic inflation we're seeing is pure gaslighting.
Inflation is, as the great Milton Friedman told us, "is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."
The government (and this includes Trump) printed an unfathomable amount of money the past couple years. The chickens came home to roost - too many dollars chasing too few goods and services (i.e. the money supply growth rate vastly outstripped GDP growth), so voila, inflation. It's the simple and proximate cause, and the rest of it is deflection.
For them to admit this would require them to disavow all their grand spending plans, including Build Back Better (even though its' DOA thanks to Manchin, the party needs to keep insisting it's committed to it). The Dems are still marching to the far Left's orders, despite the nation's rejection of them. Part of that is Modern Monetary Theory, which is being debunked in real time by the inflation we're seeing.
In short, they are lying to you because that's what they do and because admitting the truth would undermine their grand plans. That those plans are simple fantasy, given the current gridlock and the impending midterm losses, is neither here nor there. Some of them actually believe that they can win in November by jamming a big spending bill through, and that such a bill won't add to inflation. Those same people quite possibly believe that the Moon is made of green cheese....