This is a very compelling argument about the causes of this inflationary cycle. Unfortunately I’m afraid that our idiot president and his statist advisers will do exactly the wrong thing. https://reason.com/2022/03/11/blame-washington-not-moscow-for-surging-inflation/
A matter of not seeing the forest for the trees. Deficit spending is the reason employment is at record levels and why the economy is booming after a Covid crash. Furthermore, the notion that Biden and the Democrats are solely responsible for deficit spending is not factual.
First off no one said Biden is responsible for all of the inflation. He is responsible for much of it however because as the article points out the deficit spending pumped tremendous volume of money into the economy. It was also an economy with shortages caused by Covid. That is the classic formula for high inflation. Biden did and is doing a poor job of management.
Biden really isn't doing anything. He belongs in a nursing home. Someone is though, and they are fucking it up in spectacular fashion.
Four big Republican lies about Biden and energy production: Lie #1: Per despicable, disgusting Steve Scalise: "rising prices at the pump during Biden’s presidency is what happens when you destroy America’s energy industry”. Utter bullshit. America's energy industry has not been destroyed, the oil companies are doing fantastically well, the Biden administration has done nothing to reduce existing oil and gas production in the USA, and the Biden administration has approved more drilling permits during his first year in office than trump did in any of his first three. Prices have risen globally for a number of reasons, but cutting back production in the USA is not one of them. Lie #2: "Biden ended oil and gas drilling on federal lands." More utter bullshit. Biden paused new oil and gas leases on federal lands and waters pending the outcome of a review of the federal leasing program - an executive order that a trump-appointed federal judge later struck down. Lie #3: American oil production was negatively affected by shutting down the Keystone XL pipeline. Still more utter bullshit. The Keystone XL has never been operational, would not have been operational for at least 10 years, and is not a "production" mechanism or an oilfield in the first place. It would have been merely a shortcut within a fully functional existing Keystone system. Lie #4: Biden destroyed American energy independence. Even MORE utter bullshit. If by "energy independent" we're talking about producing more energy than we consume, the US remains energy independent today. If we're talking about being independent of imports of foreign oil, the USA has NEVER been that. https://www.motherjones.com/politic...joe-biden-energy-oil-gas-prices-fossil-fuels/
why would he do that, does he want gas to cost more for minorities? sounds good why would we stop it? make gas cost more for minorities?
Inflation is directly attributable to QE (quantitative easing) printing and dumping money into the supply. It started maybe as far back as the last quarter of GWB admin but was wide open all of Obama’s years as well as Trump and Biden. Inflation is too many $ chasing limited goods. We have roughly 12 times as much money in circulation as we did then. Did your pay go up by a factor of 12?
