I saw last week that the Washington Post is reporting that inflation is back.
Also, that wages aren’t keeping pace, and that the driving forces behind the rising prices are food and fuel. That means that the poor are being hit the hardest by this administration’s policies. I thought the Dems were the friends of the poor?
Inflation is back, with higher prices for food and fuel hammering American consumers, and this time it really hurts.
It’s not just that prices are rising — it’s that wages aren’t.
Previous bouts of inflation have usually meant a wage-price spiral, as pay and prices chase each other ever upward. But now paychecks are falling further and further behind. In the past three months, consumer prices have been rising at a 5.7 percent annual rate while average weekly wages have barely budged, increasing at an annual rate of only 1.3 percent.
And the particular prices that are rising are for products that people encounter most frequently in their daily lives and have the least flexibility to avoid. For the most part, it’s not computers and cars that are getting more expensive, it’s gasoline, which is up 19 percent in the past year, ground beef, up 10 percent, and butter, up 23 percent.
It really does seem like this administration is determined to make more poor people. But, I guess that makes sense. They’re certainly determined to increase dependency on government. That’s what ObamaCare is all about. And they don’t seem to have any interest in improving the economy or ending unemployment benefits.
How best to increase dependency on government? Make more poor people.
Well, this will certainly help.
Oh yeah. One more thing. I think someone predicted inflation was coming and was ridiculed for it. Now who could that have been?