Kirk Swearingen, Salon
Steve Cortes, Substack
Both articles found on Real Clear Politics.
The Epoch Times columnist Jeffrey Tucker elaborates:
He points out that three years of inflation “permanently and deeply wounds the standard of living for everyone.”
In the last year, the Consumer Price Index has increased 3.6%.
“The dollar has lost an astonishing 20 cents of its value (domestically, in terms of its exchange ratio with goods and services) from three years ago. And it will continue to decline. No coincidence here: there is a direct correlation with expansion of the money stock,” Tucker continues.
“My friends all had a good laugh over this hilarious headline in Vox: ‘The problem isn’t inflation. It’s prices.’
“It’s funny because inflation is all about prices.
“There is no separating the two…
“even if inflation falls to stay at zero percent, prices themselves will not fall.
“An inflation rate of zero does not mean that we go back to 2019 prices. It means that existing prices are the new normal.”
And that is President Joe Biden’s problem.
As Tucker puts it, “We are permanently worse off.:
Biden used a firehose to increase money supply, which increased prices, and there is no way to push it back in.