Pew: By a wide margin, Americans view inflation as the top problem facing the country today
“Seven-in-ten Americans view inflation as a very big problem for the country, followed by the affordability of health care (55%) and violent crime (54%).” - Pew
- Inflation is the cruelist tax - Nobel Laureate Milton Friedman
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It’s the economy, stupid - James Carville
Observation - everyone that I have a conversation with talks about inflation. It’s really hurting people. It will cost the Dems in the mid-terms!
And yet the Dems are not responsible for it. You have pent up demand for products as a result of 2 years of lockup, you have plenty of cash in the system and you have a supply chain that can’t keep up because of the lockdown. Most of it as a result of short term China policies. There is no quick fix for this and the fixes that are available are a bit painful. Raising interest rates will have a bit of an affect, but will only be painful for those that don’t have money. The interest rate increase in the housing market is having absolutely no affect on the Florida housing market where I am at. Mostly because everyone coming down here is paying cash and interest rates are irrelevant to them.
It’s not a democrat/Republican thing. Every president, regardless of party, spends more than the last and continues to bury us in debt. Worse, they all accept Keynesian economics which proposes spending our way out of economic trouble. Given that free money is popular with most voters, this is unlikely to change anytime soon.
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