How is Inflation Impacting You?
The Consumer Price Index (CPI), a key inflation index, came in hotter than expected at 3.1% in January and is up 17.9% since President Biden took office. This skyrocketing inflation has caused American households to spend $11,434 more annually to maintain the same standard of living as they did in January 2021.
In President Biden’s economy, Americans are spending more and getting less. With no clear end in sight, it’s understandable that folks are concerned about how they will continue to afford these inflated prices on groceries, gas, and everyday necessities.
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There are 5 Comments
Inflation burdens the working poor and middle class.
This was caused by democrat idiotic policies, the country and world are devastated after 3 short years.
Reply on inflation
Yes but Trump played his part as well. Approving the Covidiocy of massive government growth, cumulative deficits of almost $8 Trillion, and following the advice of one Larry Kudlow who advocated the BIllionairre Bailout of $4 Trillion created into existence to float the stock market. Those with considerable disposable income leveraged there $ into billionaires holding an even greater share of our wealth. Republicans share in the blame. Or should
Inflation
I feel compelled to help educate the public on this topic. To begin with, what IS inflation? Today it is held to be synonymous with higher prices. Historically though, infaltion was taken to be an expansion in the money supply, by either banks or governments. HIGHER PRICES are merely one RESULT of inflation, using the historical definition. Note that by this definition, the culprits are plain to see: Governments that spend more than they take in resort to the FED and the banking system to create money out of nothing to make up their shortfalls. Government deficit spending is a huge driver of inflation. Inflation is in effect another tax that disproportionately harms the poor and middle class. So blame your legislators for your pain. THEY are responsible.
inflation
What is inflation? Many take it to be an increase in prices, but I prefer the historical definition. That is, inflation is an expansion of the money supply, usually by banks or governments. Higher prices are one of the RESULTS of inflation.
It would be better to differentiate cause and effect, maybe by labeling the classical definition os "monetary inflation," and the CPI index as "Price inflation." However, notice that the mere classical definition implicates the real culprits: Our banking system including the Federal Reserve, which creates money out of nothing, and governments. Even in our government, where it can not directly expand the money supply, it is deficit spending that by and large causes a "need" for fiat currency, money created out of nothing, so that government can continue to spend willy-nilly (for the purpose of buying votes, perhaps>) Want to end inflation A good place to start is to STOP DEFICIT SPENDING!! Inflation is nothing if not a hidden tax, one that disproportionately harms the poor and middle classes.
Some great points Ken!
Yes, republicans are to blame also, but I will stick up for Trump for several reasons. He had the right idea, and his policies have led to expansion, which without covid would have had a much faster result.
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