14-15 months ago is when we started seeing impact from covid vaccines and restrictions were being lifted. This led to people getting out and spending. Spending came from 2 main sources.
1. The government had printed off nearly 5 trillion in a year.
2. Pent-up spending from people couldn't spend due to covid restrictions
15 months ago the flood gates open. This created a lot of demand on a already strained supply lines. When you have high demand and low supply, prices go up. Thats what were seeing. What I find odd is people keep paying the prices. I would think people would get to a point where they would say "No way, I'm not paying that much." I see all these businesses packed. People either don't care or they lack the will power to hold back. My guess is the latter given the instant gratification society we now have. On the other hand, there's the mind set of prices keep going up, I should buy it before it gets even more expensive.
Great post. One additional factor also causing inflation is the War in Ukraine.
Oober - I didn't see or here anything about Biden claiming that taxing the rich will cure inflation. Anyone with half a brain can see that's clearly not a solution for inflation - to me that sounds like a manipulation of what Biden might have said but I'll happily read any quotes or speeches or links that show what Biden actually said as opposed to what Faux News might have tried to insinuate he said.
EDIT: Like many things, it only takes a moment to look at what's happening GLOBALLY to figure out whether (as some claim) all this inflation is because of Biden or if other factors are at play. Inflation is impacting EVERYONE. In the UK - currently 7%. https://www.bbc.com/news/business-12196322Amazon CEO and Washington Post owner Jeff Bezos caused quite a stir on Twitter Friday when he publicly mocked President Joe Biden for his latest solution for inflation.
Biden: "You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share."
Bezos cracked Biden’s tweet, beginning with a dig against the administration’s new propaganda department, "The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead.
"Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection," he added, completely trouncing the president’s idea.
Yes, there are reasons for inflation. No, it's not only here. It's not all about "is this inflation
because of Biden?" as much as it is expecting leaders to lead!
So far these are his two plans to battle inflation (and yes, he referred to the first one as
a plan)...
1. "Folks, prices are higher."
2. "Make the corporations pay their fair share."
The sad part is intelligent people using the second as a defendable position and "attacking" the other side with it. "Inflation is your fault, you voted for republicans". Not that this should be surprising since it is an administration
100% hell-bent on creating division on every issue... hell, they just paid a six-month study group to come up with the term "ultra-maga"!
