For the past six months, the regime has repeatedly used whatever bogeyman could be blamed for inflation—so long as the central bank remains blameless. First it was "greed," then it was covid, and now it is "Mr. Putin."
In a recent speech, President Joe Biden blamed inflation on businesses raising prices and told them that they needed to lower their business costs -- but boost wages. You do the math.
The White House this week admitted sanctions don't work, but Biden thinks it's fine to shrug and say, "Sure, sanctions have failed, and are also causing food shortages, but that's just the price you little people gotta pay!"
The success of Japan after WWII was due entirely to low taxes, an appreciating currency, and a very high personal savings rate. That all changed when the bubble was born in the late 1980s.
Real wages are going down. Debt is skyrocketing. The economy has only partly recovered from an economic disaster. This isn't the "historic growth" Joe Biden wants you to think it is.
There was truth in the war-cry of the bimetallists that a "crime against silver" had been committed; but the crime was really the original imposition of bimetallism in lieu of parallel standards.
The hardships from high fossil fuel prices that will be suffered by Americans and others around the world will be a humanitarian crisis that could have been avoided.
Tariffs and trade controls are little more than tax increases and a chance to further empower a bloated bureaucracy. Not surprisingly, Biden doesn't appear to be enthusiastic about embracing free trade.
