Inflation is the Democrats' nightmare
A few days ago, I argued on Spanish TV that the Democrats are using the "voting rights" topic to distract Hispanic voters. In other words, distract them from the price of gasoline and a few other things going up at "la bodega."
Yes, inflation is starting to hit the family budget, and people are screaming. Let's check with Jordan Weissmann:
When it comes to America's recent bout of unexpectedly high inflation, Joe Biden and Jerome Powell are both making the same bet: It's just temporary.
Over the past few months, consumer prices have spiked in a way not seen for decades, a fact that has clearly spooked a good number of Americans. But as the president and Federal Reserve chair have both pointed out, the increases have been driven in large part by passing problems like supply chain snafus in a handful of industries, leading to things like an unprecedented jump in the cost of used cars.
"These are factors that will wane over time and then inflation will then move down toward our goals," Powell said in June. In a recent speech meant to calm voters' nerves, Biden similarly said the snarls were "expected to be temporary."
As Mr. Weissmann explains later in the article, temporary is not the same as short. In other words, it may be "temporary" enough to turn into the driving issue of 2022.
Inflation, as some of us remember from 1979–81, disrupts everything in a society. It drives up the price of real estate and then drives out younger families from buying their first home. Gasoline and food prices kill the middle class because wages can't keep up. Again, I saw this movie, and the story is awful.
The Democrats are desperately trying to make 2022 about the people who broke into the Capitol on January 6. On the other hand, the voters would rather hear about the inflation eroding their lifestyle.
PS: You can listen to my show (Canto Talk).
Image via Max Pixel.
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