Inflation continues its spiral out of control. Small businesses and ordinary Americans are being taxed to the tune almost 10 percent of their earnings, on top of all other taxes. Recently, the Labor Department announced that wholesale prices have increased at 9.7 percent and consumer prices are rising at 7.5 percent respectively over the past year.
Last year, the Biden administration passed an (unnecessary) $1.9 trillion American Rescue Plan and a $1.2 trillion infrastructure-in-name-only bill. The $5 trillion “Build back Broke bill” was stopped by grassroots Americans and conservative groups. The Federal Reserve also bought assets to inject trillions of dollars into our economy.
Congress must end unnecessary spending and social programs that cause prices to rise in response to the inflation crisis. Because of their fiscal effects and economic distortions, the Build Back Better legislation must be tossed out. Radical Democrats supporting MMT must be resisted by the Federal Reserve. They should immediately stop asset purchases and increase interest rates.
The post Runaway Inflation Discredits Democrats’ Fiscal & Monetary Policy appeared first on Political Daily.
FOLKS, wish to apologize upfront because this opinion is going to be long due the subject that is a pet peeve!
BAD POLICY BY THE BIDEN ADMINISTRATION began on DAY ONE with the PRESIDENT’S EXECUTIVE ORDERS to STOP CONSTRUCTION on the KEYSTONE XL PIPELINE, STOPPAGE of OIL & GAS EXPLORATION on FEDERAL LANDS and OFF SHORE, the OPENING UP OUR SOTHERN BORDERS to an unprecedented INVASION of 2.5 million ILLEGAL IMMIGRANTS, CRIMINALS, GANGS, TERRORIST, DRUG DEALERS, etc., then continued with the SURRENDER TO THE TALIBAN, etc.. All of these POLICIES were the GROUND WORK and FOUNDATION for BIDEN’S HYPERSONIC-INFLATION.
A SIMPLE FACT is INFLATION is not STRICTLY a MONETARY POLICY DEBACLE it STARTS with the ECONOMY which in-turn effects the MONETARY SYSTEM which normally is in the realm of the Federal Reserve NOT THE PRESIDENT.
SO WHAT POLICY KICK STARTED INFLATION, simple the attempted destruction of the OIL & GAS INDUSTRY and eliminating OIL & GAS INDEPENDENCE. This POLICY has FAR REACHING effects not just inflation. It is what has ALLOWED RUSSIA’S PUTIN to sell 550.000 barrels of oil per DAY to the U.S. This is causing the AMERICAN CITIZEN thousands of lost dollars each year, caused TAX DOLLARS to dissipate due to loss of Oil & Gas revenues and international sales. This has also allowed Russia’s Putin the money to INVADE UKRAINE (OH, if American’s have not figured it out yet, the American Economy is funding Putin’s War)! Just do the math, Russia produces crude at approximate $20 to $30 per barrel and sells for $100 per barrel with probably a NET PROFIT of $40 per barrel which then equals approximately $6 to $8 TRILLION DOLLAR PROFIT PER YEARS, damn that pays for a lot of war!
That is BILLIONS OF U.S. DOLLARS out THE WINDOW in a TYRANTS HANDS to do evil.
SO what can be done to turn around INFLATION, start with finishing the KEYSTONE XL PIPELINE, open up DRILLING and make the U.S. OIL & GAS INDEPENDENT AGAIN which will re-strengthen our NATIONAL SECURITY AS WELL.
SECOND eliminate VACCINE and MASK MANDATES, SUSPEND UNION RULES at ALL CALIFORNIA PORTS FOR 6 MONTHS, BIVE ACCESS to ALL TRUCKERS to the ALL CALIFORNIA PORTS to transport move CONTAINER quickly the MOVE SHIPS to other PORTS around the COUNTRY and organized by DOT (OH, c-r-a-p, forgot Secretary of Transportation Butt-a-head who want to promote his LGBTQ NARRATIVE INSTEAD of his job). CORRECTION maybe the PATRIOTIC LONGSHOREMAN SHOULD HANDLE THIS SITUATION.
THIRD ISSUE is certainly not the last cause of INFLATION but the MONITARY POLICIES of the ADMINISTRATION along with destruction of the OIL & GAS INDUSTRY along with the DISRUPTION OF SUPPLY CHAIN make for BIDEN-SUPERSONIC-HYPERINFLATION we all are feeling, which is much worse than any 7.5% to 10.5% that our LYING GOVERNMENT AGENCIES WANT US TO BELIEVE.
EXAMPLE: Food in February 2021 for one person for one month cost approximately $165.00, in 2022 cost is approximately $235.00 a $70.00 increase or 30% increase one year, Natural Gas in February 2021 $85.00 in 2022 the same amount used was $189.00, an increase of $104.00 or a 55% increase, now for electricity in February 2021 bill totaled $80 and 2022 bill totaled $104 which represents a 23% increase. Then FEBRUARY 2021 gasoline price was $1.72 and 2022 as of today is $3.09 or a 44% increase. BUT WE HAVE GOVERNMENT AGENCIES TELLING US 7.5% to 10% INFLATION. DOES NOT TALLY IN MY BOOK!
SAD part are those folks who are on a FIX INCOME already stretched to the max before BIDEN. These FOLKS could sure use SOME OF THOSE FRAUDULENT DOLLARS FROM BIDEN’S UNEMPLOYMENT PAYOUTS! This MONETARY POLICY does not help INFLATION either.
BACK TO SOLUTION, OPEN UP DRILLING and watch Oil & Gas Prices diminish, transportation cost will diminish and INFLATION will slow subside as it did in the past.
Only other ISSUE we never totally recover or roll back all price increases.
Just my thoughts and opinion.