Tuesday, October 18, 2022

Inflating the Inflation Issue

INFLATION, which hasn't been this much of a problem more than fort years ago when I was a teenager, is being promoted by Republicans as the sinlg emost important issue on the ballot in the midterms, the only important issue. As usual, the Republican arey lying to us, and expecting us, evidently, insultingly, to believe what they say. Inflation is not an issue, politically, in this year's election, for the imple but obvious reason that neither major political party in America is anymore to lame for it than the other, and there is nothing either of them can do about it. The current inflation problem is world wide, and it was cauused by a world wokd, global phenomenon; the pandemic. the pandemic caused teh sorld to shut down of necessity, and greatly reduced theoduction of goods and services, which are still in short supply due to the world's economy's failure to catch up post pandemic. Actually, the pandemic is still very much with us, but sufficiently reduced in severity that we seem tp prefer to pretend that it is in fact over. Because people have had less to spendon the past couple of years, their is, in a global basis, pent up demand, money, burning holes in people's pockets all around the world. Lower supply plus increased demand equals inflation. Joe Biden, with all his incredible power, is not powerful enough, not by a long shot, to cause inflation all by his little old eighty year old self. Any econoist will tell you that, and all the rest, above. But as former labor secretary, UC Berkeley professor Roberr Reich tells us. American corporate profits are sky rocketing, setting new records, all becuase corporations are taking advantage of the supply and demand situation to jakd u= their prices, way up. Part of the problem is corporate greed, the corporate oligarchy placing profits above all else, above the national interest, above the health of the American economy and the economic well being of the average American citizen, unsurprisingly. Youre'e not going to solve the inflation problem by voting for either Democrats or Republicans, but if you vote for Democrats, you will be voting for candidates who are much much more aware of and much much more concerned about the corporate greed problem in America. Republicans generally do not view excessive corporate profit and greed as undesirable. Democrats say: tax 'em. Lowering taxes on teh eealthy, which is a favorite Republican strategy, will not help reduce inflation, nor help the economy generlally, nor will it help the average American citizen, who will have to pay the increased taxes to compenstae for the decrease in tax revenue from the wealthy. The Republican party is the party of the wealthy, and it mueasures economic prosperity by how well the wealthy, not the poor, are doing. Its not "Biden's inflation", or the Democrat's inflation. Its our inflation.

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