What's infuriating is that those rising prices are largely the result of foolish policy choices and that there's actually a constituency for doubling down on political interference in the economy to further crimp our liberty and prosperity.
The understandable focus on inflation comes after yet another month of rising prices.
While the Consumer Price Index shows the annual inflation rate dipped a hair from 8.5 percent in March to 8.3 percent.
"Since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries," Òscar Jordà, Celeste Liu, Fernanda Nechio, and Fabián Rivera-Reyes wrote in a March analysis.
"The Treasury then borrowed another $2 trillion or so and sent more checks. Overall federal debt rose nearly 30 percent. Is it at all a surprise that a year later inflation breaks out? It is hard to ask for a clearer demonstration of fiscal inflation, an immense fiscal helicopter drop."
"It's unclear whether inflation has reached its peak, but the situation is now economically and politically toxic, and it has left many of the same policymakers, advocates and economists now asking whether the stimulus checks were a mistake."
"A majority of voters blame Biden for inflation - including a sizable chunk of Democrats - and disapprove of his handling of the economy more broadly."
https://reason.com/2022/05/16/bad-policy-creates-inflation-and-opens-the-door-to-even-worse-ideas/
No comments:
Post a Comment