It's Just a Little (Too Much) Inflation!
The Democrats would have crapped themselves if inflation hit 5.4% under Trump
The other day I debated another Youtube user about the legacy of Donald Trump. While we deeply disagreed on who was responsible for some of the many problems we now face in the United States, we agreed in function about the largely negative role of inflation on the economy. Prices are soaring (partly because of a spike in oil prices- not helped by Bidens' anti-energy policies.) Purchasing power is down. If you have any assets, their functional value is now depreciated.
Cue the legacy media and its propaganda. It doesn't fit the narrative that Biden is so feeble with regards to basic economic management, so we have to suffer day after day under a cascade of disinfo articles proclaiming that "inflation is not that bad" or that "wages will rise so inflation has a silver lining."
The first claim is utterly laughable; the straw man is that a little inflation which paces economic growth is indeed not "bad." Actually without any inflation the US dollar would eventually be useless for direct trading. But for the last three months we have had steadily higher and higher-than-expected inflation coupled with unemployment inching upwards- we're a step or so from stagflation- that much-hated seventies' economic downturn that caused so much trouble. The second claim is somehow even more stupid, since wages rising does not offset the fact that the dollars earned purchase less and less.
We've also been gaslit about the inflation just being "transitory"- but even corporate vultures picking the carrion from the carcass of a formerly booming Trump economy say this is bullcrap.
The level of dishonesty coming from the corporate press has steadily risen for years but this latest wagon circling- designed to keep the public from panicking and removing investments from the economy, thus proving the weakness of the Biden economy- takes the cake. It's all a joke, to prevent already shaky consumer and business confidence from correcting to a level commensurate with the lack of leadership we have to suffer with from the incompetent Biden admin.
We made it through the “Great Recession”, so why not try another “Great Depression”? My mother told me stories of living through the first one and the survivors became our “Greatest Generation”. What’s that saying about “bad times make strong men”?
Yes, $6 trillion of "stimulus" printed by the Treasury at the direction of Congress and dumped into the economy will certainly have an inflationary effect.