According to an article, I just read, about a poll, it says Americans are more worried about inflation coming back than about threats to democracy. Poll indicates that Democratic Party' s strategy of campaigning on worries about democracy might not, as the old phrase goes, "play in Peoria;" as in will it play in places like Peoria, Illinois.
Yes, I say we do have inflation with home values going up around 20% here in Bellingham; 16% nationwide in the last year. That's got to spread to other inflation in wages, as people need to pay more for rents, first time homebuying and so forth. Then other prices go up as businesses charge more to pay the higher wages.
I guess people need to understand inflation better. It is happening, but it isn't necessarily the end of the world if wages can keep up with other prices.
Problem is, most people's wages usually don't keep up. Maybe they keep up with some prices, but certain things, like housing and medical insurance, can be outliers.
Inflation is not necessarily Biden's fault, but it needs to be better explained, I guess.
Lots of people benefit when assets, such as houses and stocks, go up so one hardly ever hear politicians, or the media, talk about this as a root of the dastardly "inflation" that so many people say they don't like.
The Fed creating so much money and low interest rates helps to drive this situation. Still, we have to print money to fund government, the military, police, civil society, disaster relief, Medicare, coronavirus relief and so forth.
It's going to happen, but if we can stay calm, it's manageable. One way to cool inflation is to raise taxes. One way to cool inflation is to send the economy into a recession. Cause asset values to plummet.
We can't "have it all" and I'd also say, "be careful what you ask for as you might get it."
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