Simple math tells me that in February my dollar was worth 97 cents? Why is this? Politics, Big Business, Energy, War, COVID-19? I want to BLAME someone for all of this but I just can’t seem to figure out who’s fault this is. (tongue in cheek)
Honestly, all of us!
We failed to stop the coup, and let a minority of ( insert expletives ) to usurp the Presidency.
We were all taught as kids that the bully only wins if you let him win! As soon as you bloody his nose, he will surely cease and desist!
However the people we assume and call “leaders” have control over the things that effect our very lives ( gas prices, food shortages, violence, the list is endless ).
It’s not Putins fault he’s decimating Ukraine, it’s the weak kid on the world’s playground! The weak kid needs to punch him in the nose!
This inflation thing really got rolling with Nixon cutting us off the gold standard. Throw in some Regan era (and Trump) Voodoo Economics, Obama (and Trump) money printing, as well as Biden and the Squad’s free money for all campaign and you get us where we are today.
I personally believe that all of the above and all of us in between being used and manipulated by the too big to fail, military industrial complex, tax dollar subsidized corporations is probably where most of the blame belongs.
You forgot Carter Stag-flation and Clinton. Reagan was supply-side economics, not voodoo. Trump had the best economic recovery until the “pandemic”, and Democratic state governors made most workers stay home.
I left out Bush 2s endless wars that we will be paying for for decades and quite a few other examples as well. You could argue that Clinton was the last President to balance the budget for a very brief period but he was just using the fuzzy math largely made up by government accountants during the Reagan years to help hide the ever increasing unfunded spending and debt loads.
Continuously spending more than you take in always leads to bankruptcy. Both parties are guilty despite a few Presidents claiming temporary victories for the normal ebb and flow of economic cycles that are all being swamped under the debt tsunami piling up over our heads for the past 5 decades.
Oh, yes, Bush… we all know Clinton had no military actions, especially in places we had no national interest. Oh, wait, please do not fact check that. A few I recall, bombing Baghdad, resulting in a number of civilian deaths; Bosnia, Haiti, bombing Iraq (again), bombing of Afghanistan, Sudan, bombing Iraq, yet again, Yugoslavia with at least a couple of thousand civilian deaths. Interestingly, most, if not all, of his military interventions occurred while he was dealing with personal scandals.
I’m no Clinton fan, was simply giving some major examples of the debt based inflationary spiral we are on. Afghanistan and Iraq are significant and continuing contributors with trillions spent so far and trillions more we still need to spend just to care for injured vets over the next several decades.
Now if we want to start a thread about war mongering presidents then I would nominate the Nobel “Peace” Prize winning Obama over Clinton. He ran on a platform of ending wars but not only continued them but involved us in multiple other conflicts as well. There is a lot of innocent civilians’ blood on his hands.
I look at inflation and see that all of you are correct. 1) Modern Monetary Theory and No Gold/Silver/Precious Metals Standard (we actually at one time had deflationary periods! Imagine that!) 2) Oil and Gas Prices and Government Policies 3) Supply Chain Crisis 4) Gov’t Spending and Gov’t Giveaways - the gov’t has injected too much money that they do not have into the economy.
The above 4 can be directly attributed to those in power.
With 5 Year bonds paying more interest than 10 year or longer bonds this will get much worse.
In 1913, your dollar was worth 100 pennies or one ounce of silver.
Then, we got saddled with the federal reserve. Three democrats signed into law during the christmas break when no one else could vote.
Now, your dollar is worth 3.3 cents as silver has now become far more valuable. Who is to blame for the inflation? Whomever has flooded our economy with all that extra currency. Namely, your own government.