There is a quick way to reduce inflation and help the poor, but the Democrats won't do it
The media and other Democrats come up with all sorts of ways to reduce inflation, but they ignore the elephant in the room.
First, they have a slush fund where they raise taxes, hand out mass subsidies to their political contributors and they falsely call it the Inflation Reduction Act. The only potential to reduce one component of inflation is down the road on prescription drug prices, which haven't been rising very fast compared to other necessities like food, gas, utilities, and housing.
Most of the poor already get their drugs for free so it doesn't help them, now or in the future. They also don’t have enough money to buy electric cars or solar panels no matter what the subsidy is.
Now, Chuck Todd is supporting the non-enforcement of immigration laws and pretends that more illegal immigrants will solve inflation.
I wonder if Todd understands that inflation was low when Trump was enforcing the law, we had far fewer illegal immigrants. Does he understand the inflationary pressures on food, housing, schools, hospitals, and other things when you flood the United States with millions of people when there are already shortages?
It appears that Todd, like most journalists who are campaigning for Democrats, has an elementary knowledge of economics and a very limited understanding of supply and demand. They certainly don't understand the difference between cost-push inflation and demand-pull inflation.
Another fallacy we hear is that getting rid of the tariffs will lower inflation. Inflation didn't go up with the tariffs so why would it go down without them?
Reliance on China for so many of our products has contributed greatly to our supply chain and inflation problems. Getting rid of the tariffs will increase that reliance It is an ignorant and dangerous solution,
China hates us and will gladly cut us off from rare Earth minerals and other things if they get a chance.
What we rarely, if ever, see is the recognition by the media of the disastrous inflation that is caused by the Democrats’ intentional destruction of industries that supply plentiful, practical, affordable, and reliable energy. That is the elephant in the room. Cost-push inflation will continue until they get rid of these policies where they falsely claim they can control temperatures, sea levels and storm activity forever to justify the destruction of the fossil fuel industry.
The reason the media rarely mentions those destructive policies is because they support them.
The high price of gasoline in 2008 contributed greatly to the deep recession in 2008 because it was destroying the purchasing power of everyone, but especially the poor, middle class, and small businesses. The price of crude had soared to $132 per barrel in June 2008. By January 16, 2009, when Obama took office, it was below $36. The retail price of gasoline in June 2008 was $4.10 per gallon. By the time Obama took office it was $1.84.
So, what caused the rapid drop in prices and the massive stimulus for everyone? Bush lifted the ban on offshore drilling.
The media was as economically illiterate in 2008 as they are today. Reuters called it "a largely symbolic bid unlikely to have any short-term impact on high gasoline costs"
WASHINGTON (Reuters) - President George W. Bush on Monday lifted a White House ban on offshore drilling to try to drive down soaring energy prices, a largely symbolic bid unlikely to have any short-term impact on high gasoline costs.
The media and other Democrats don't care about facts, inflation, or the poor. They care about power.
Here is some information on the climate that will not be covered because it doesn’t fit the agenda.
After 160 years of exponential growth in the use of coal, natural gas, and crude oil and the rapid growth in the population and CO2 content, Europe will be significantly colder than normal, and it is cold earlier than normal.
Russia is cheering.
Europe is plagued with an energy crisis, and the cold season is coming ahead of schedule.
The stability of the EU's natural gas reserves now depends on a mild winter. But new weather forecasts for next week indicate that "Arctic chill will blow across western Europe through next week will be the first test of how willing people are to delay switching on the heating in a bid to save energy and ease household budgets," according to Bloomberg.
Forecaster Maxar WeatherDesk said temperatures in London would sink 5 degrees Celsius below average, falling as low as 6.5 degrees Celsius overnight on Sept. 27. In Frankfurt, Germany, temperatures will fall 3.5 degrees Celsius below normal levels on the 28th, while France and Spain will see temperatures 3-4 degrees lower than the seasonal norm.
There is another way to solve inflation: go back to Trump’s policies of smaller government, fewer regulations and lower taxes that produced rapid real income growth for those at the bottom and low inflation.
Of course, the media and other Democrats have never cared about good results. They care about power.
Graphic credit: Open Clip Art public domain