The good news is that Democrats are finally acknowledging that inflation is a real problem. The bad news is that in order to find a solution, they must first be honest about the cause.
Considering the rest of us have been predicting that their bad policies would deliver exactly this result, the likelihood of them admitting the problem is their fault and actually solving it is vanishingly small.
Seriously, when’s the last time you saw a Democrat owning responsibility for a catastrophic policy decision? They even tried to call Afghanistan a ‘great success’, and the droning of a family a ‘righteous strike’. We can’t help but notice how none of the decision-makers lost a job over any of that, did they?
Asked by host Margaret Brennan on Sunday in a pre-taped interview on CBS’s “Face the Nation” if she is confident prices for the average American will be back at normal levels by next November, Yellen said it “really depends on the pandemic.”
“The pandemic has been calling the shots for the economy and for inflation. And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do. I think it’s- it’s- it’s important to realize that the cause of this inflation is the pandemic,” Yellen told Brennan in the interview that aired on Sunday.
The Labor Department released new data on Wednesday illustrating that annual inflation has reached a 30-year high after increasing 6.2 percent in the 12-month period ending in October. —TheHill
The pandemic isn’t the problem. The government’s RESPONSE to the pandemic is the problem.
Speaking with Treasury Secretary Janet Yellen, the chief economic concern for Face the Nation moderator Margaret Brennan was if inflation would go down by the time the midterm elections roll around. pic.twitter.com/vsZajk7jti
— Nicholas Fondacaro (@NickFondacaro) November 14, 2021
While most of the world embraced a totalitarian (or nearly totalitarian) approach to the lockdown, some countries took a much more nuanced response.
Sweden did not follow the crowd on the lockdown protocols. They did not follow the COVID crowd in a lot of ways. Even now they have stopped asking for rapid testing of people who have received the vaccine.
The gloom-and-doomers predicted medical catastrophe that would leave gazillions dead, which would have ripple effects through their economy. But that disaster never came.
There are countries that had fewer deaths, and there are countries that had more. But Swedish citizens got to keep their dignity — and their businesses.
If Yellen is going to blame the pandemic for American’s inflation issues, she’ll need to explain why Sweden does NOT have that same problem. In fact, their economy is doing so well that they are reducing their debt.
Sweden’s economy and central government finances are recovering faster than expected from the pandemic, reducing the country’s borrowing requirements and its bond issuance needs, the National Debt Office said Wednesday.
The NDO expects Sweden’s budget balance to already be positive this year and it sees the surpluses continuing to grow during its forecast horizon, it said, adding that the budget balance improves by a combined 55 billion Swedish kronor ($6.38 billion) in 2021 and 2022 compared to its estimate in the previous borrowing review in May.
“The economic recovery has been surprisingly strong so far this year and will gain further momentum after the removal of the pandemic restrictions,” Hans Lindblad, director general of the NDO said. “We also see a brighter situation in the labour market, despite expecting only a slow decrease in the number of long-term unemployed,” he added. –MarketWatch
Maybe instead of passively ‘blaming the pandemic’ for their problems, they might look at specific decisions that have been made to increase the cost of everything.
One example is the policy of flooding the economy with ‘free money’ … devaluing the dollar in the process.
Another example is the War on Oil.
Democrats have been caught cheering on the rise in fuel prices as a cudgel that will put such a high price on energy that Americans won’t have a choice but to switch to Green Energy.
— Townhall.com (@townhallcom) November 12, 2021
Their reflex is the use of pain to motivate us into compliance with their agenda.
What they don’t stop to think about is the fact that everything we buy comes to us by some combination of boat, truck, and rail. So every product we buy has just been ‘taxed’ by this deliberate policy of compliance.
And who gets hit with the blunt end of their policy’s pool cue?
The Poor, as always.