- May 29, 2001
Ha! Your last line is “if you want more vote Democrat” but almost your entire blame list happened under Trump.Several things that, I believe, created the inflation:
I believe these were driven by Democrats in Congress and Democratic governors. Even the Fed behavior is driven by the need to be reconfirmed in Congress, so they are effectively doing the bidding of a Democratic Congress.
- Paying enhanced unemployment benefits that were enough to disincentivize working. I think it was enough for people to extend their vacation past September 1.
- Closing schools, making it harder for parents to work, so that overall productivity goes down (while the money supply goes up).
- Forcing business closures while government sends checks to their employees. (Same as closing schools.)
- Pissing off workers through mask and vaccine mandates, thereby furthering cuts in production with the increase in money supply.
- Restricting natural gas production, thereby worsening the trade imbalance and driving up the cost of everything produced using energy, including the cost of shipping.
- Fed behavior, like buying mortgage backed securities in a constrained housing market. Forcing interest rates down, thus increasing demand for big ticket items like homes and cars, while production is artificially constrained.
- Demonizing police. Allowing crime in the cities, driving people and businesses to safer areas outside cities, thereby creating excess demand outside cities.
- Ballooning stock valuations through easy money, sending the message that you can make more money by investing rather than working. This also drove people into thinking they could retire, or leave the workforce at a younger age.
All of it will get worse, much worse, if the Dems have their way in Congress, because it just doubles down on the list above that has been creating inflation.
And just wait until all the illegals come to a neighborhood near you, flooding your ERs, with no police, as your costs soar.
It was all created because the media had an agenda. They created the TDS pandemic that threw an election.
Happy times. If you want more, vote Democrat.