Biden and his supporters are doing everything they can to divert blame for inflation
As Biden's poll numbers drop, he claims that it is malarkey to say he doesn't address inflation. He says his policies will lower inflation. On January 12, the 2021 inflation numbers came in at a 7% increase over 2020. That is the highest increase in forty years.
Biden's supporters do everything they can to divert that attention from Democrat policies as the cause of inflation.
Catherine Rampell of the Washington Post says the way to solve inflation is to put the proper people at the Federal Reserve, including Jerome Powell.
Why would she trust them, since they have kept rates near zero, which pushes up prices on risk assets substantially, and then repeatedly falsely called inflation transitory?
The rates near zero punish savers and reward big borrowers like the federal government, states, and cities.
If Biden is truly worried about the threats posed by inflation, he will immediately nominate three professionals with a track record of political independence and a credible commitment to stabilizing prices. Markets need to trust that the Fed is willing to take the punchbowl away if necessary. Even during an election year.
Those Fed slots have gotten less attention than Biden's performative attacks on corporate greed. But they're the most important contribution Biden can make to getting inflation under control — and his political agenda back on track.
Rampell doesn't analyze Biden's policies to see if they cause inflation, so I will do her job for her.
On Biden's first day in office, he sent a message to the world that his administration would have a goal to destroy the fossil fuel industry and the U.S. would no longer be a competitor on global energy markets. That sent a message to Russia, Iran, Saudi Arabia, other producers, and traders that they were now in control of prices.
As oil prices skyrocketed, the Biden administration first called them transitory, then claimed that Biden's excellent economic policies increased demand and prices, then blamed OPEC, and then falsely blamed greedy oil companies. The public didn't fall for this, so he addressed the problem by brilliantly releasing the equivalent of three days' supply. This lowered gasoline prices a few cents, and he claimed credit.
Crude oil prices have now rebounded from $66.43 on December 20 and, on January 12, over $82. Up over 20% in three weeks. Somehow Biden and his team have gone silent.
The fuel price affects everything we buy and especially harms the poor and those on fixed incomes, whom Democrats pretend to care about when they search for votes.
The reason why Biden and the Democrats want to destroy millions of jobs in the fossil fuel industry is that computer models and predictions claim that fossil fuel usage causes temperatures to rise, and that causes catastrophic climate change.
What we don't see from the U.N., Biden, Kerry, or anyone else is scientific data that show a direct correlation between fossil fuel use and temperatures in the last 150 years because there is none, but facts haven't mattered for a long time. A one- or two-degree rise after an over 500-year little ice age ended would be cyclical and normal.
Another thing we don't see is any fact-checking of previous dire predictions because the predictions for at least a hundred years have been completely wrong. The ice is still there, we still get snow, the coastal cities are fine, the oceans haven't died. We also had a ten-year calm hurricane period after Katrina, contrary to predictions.
The Federal Reserve is supposed to watch unemployment and inflation and protect the value of the dollar. Yet Powell, as he campaigns for another term, seems to have shifted his focus to climate change, which, I am sure, he has no expertise on. In June 2021, Powell said climate change was not the Federal Reserve's job.
Powell made clear that the institution's role in the matter is limited to oversight of banks and the rest of the financial system.
By November, he was told that it had better be, or he wouldn't maintain his powerful position.
Fed Chair Powell's position on climate change 'has become more and more full-on': Expert
I mean, he's made statements to Congress. He has made statements after the Financial Stability Oversight Council released its report. And most recently in his statement after his nomination, he identified climate as a key priority. So I do see that the Fed picking up the pace a bit on addressing climate change, but especially with Brainard being elevated. And she has been quite vocal on addressing climate change.
Pelosi knows as little about fossil fuels as the three leftist Supreme Court justices know about COVID. Why should we trust them to make our rules and laws?
I'm, I'm, I'm investing in something I believe in. I believe in natural gas as a clean, cheap alternative to fossil fuels. ... These investments in wind, in solar and biofuels and focus on natural gas, these are the real alternatives.
The Democrats also caused a substantial increase in labor costs, which also raised costs on everything.
First, power-hungry politicians and bureaucrats shut down millions of businesses to pretend they could control a virus. That caused businesses to lay off massive numbers of employees.
Then, when the benevolent dictators allowed businesses to reopen, the businesses not only had to compete with other businesses but also had to compete against the government that was paying substantial supplemental unemployment to stay home. These increased costs are then passed to consumers and are not transitory.
The Democrat party, as they cater to their special interests, require "prevailing wages" (union-set wages) to be paid in many situations. These racist laws have oppressed minorities and taxpayers for over ninety years and inflated costs.
Private-sector companies then must raise wages to compete for workers.
Why do most journalists and other Democrats support these racist laws while they lie about voter integrity laws?
Democrats repeatedly have new laws and regulations, especially on COVID, that increase costs and reduce productivity for businesses. These increased costs are not transitory.
Why would any government official mandate that employees get a vaccine or lose their jobs when even the Pfizer CEO says the vaccines don't work on omicron and we have never had a vaccine that prevents the very contagious common cold?
Why have so many in the government and elsewhere blocked the use of ivermectin when the military has a report that says it worked? How many people have died because of these actions by Fauci and others? How much money would have been saved and maybe hospitals and healthcare workers wouldn't be overwhelmed? The inflation because of these actions is substantial.
"Ivermectin (identified as curative in April 2020) works throughout all phases of illness because it both inhibits viral replication and modulates the immune response."
Democrats repeatedly promote free college, free pre-K, free COVID testing, and free daycare. They falsely say these things reduce costs when they clearly inflate costs because the suppliers of these services have a captive audience. Remember that someone — taxpayers — must pay these inflated costs.
The same people who are seeking to pass all this garbage lied repeatedly when they said Obamacare would decrease costs.
D.A.s, supported by Soros, who don't prosecute shoplifting and other crimes also increase costs for consumers. We haven't seen a word from Biden on these soft-on-crime D.A.s.
Open borders and illegal drugs also substantially increase costs for society. The damage is massive.