Driving back from airport and the obligatory “gas is crazy” talk after passing $4.49 sign.
He said it’s crazy because the costs haven’t gone up for the gas companies, they’re just making more money. I told him oil has gone up from a low of under $10 a barrel under Trump to over $100 under Biden…”well, I’ll have to look that up”. I pulled the USOIL forex chart up on my phone and told him to scroll through that. He was shocked.
Crazy how it is possible people have no idea. Should be an interesting week.
That’s wild. What’s her degree?
Even before college, we got brief explanations of normal, organic inflation: “one guy asks for a pay raise, and to cover it, his company starts charging more for their goods. To cover the rising cost of goods, other people also ask for pay raises and soon just about everyone in the economy is dealing with higher dollar amounts for roughly the same value as before.”
The Bidenflation explanation might actually be simpler: The Fed expands the money supply through quantitative easing and “stimulus” policies, while the commie politicians pass big spending bills that don’t really go to the proposed activity. Instead the money goes to crony corporations and investment banks who then use the easy money to compete for real estate and stocks with normal people who had to earn their money. The cronies bid up asset prices and then normal people have to raise other prices to try to keep up.
She has a master's in biomedical science. Yeah, I thought anyone who finished high school would know what inflation is, guess I was wrong.