Greedy Democrats blame businesses for inflation

 Washington Examiner:

Democrats are increasingly blaming producers of goods for high prices as rising inflation drags down President Joe Biden's approval ratings and threatens the party's prospects.

For most of this year, the messaging from the Left has been that high inflation, rather than being attributable to government spending or monetary policy, is merely a temporary phenomenon that will start decreasing. That notion has not turned out to be correct, and inflation clocked in at a 39-year high this month. Now, some Democrats are pointing their fingers at big business and corporate greed.

The biggest driver of the high inflation numbers has been energy costs, which are up more than 30% year over year. Many people are feeling pain at the pumps, especially those in the rural parts of the country who have long daily commutes. Gas prices, as a national average, are more than a dollar higher than they were in December of last year.

The higher prices prompted President Joe Biden to call upon the Federal Trade Commission to launch an investigation into oil and gas companies. He claimed their “anti-consumer” behavior is behind the inflated gasoline costs.

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Biden needs to look in the mirror to see who is responsible for inflation.  He has been expanding the money supply and at the same time restricting the supply of oil and gas.  And if you want to talk about greed, look at Biden's plan to add 86,000 more IRS agents.  That looks a lot like government greed.  Biden is one of the least intelligent Presidents in history and he keeps acting like the voters are not smart enough to figure it out.

See, also:

DEEP MEANING OF SUPPLY CHAIN

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 Earlier this week Steve Hayward drew attention to former Federal Reserve Board member Kevin Warsh’s Wall Street Journal column “The Fed Is the Main Inflation Culprit.” Warsh usefully addresses the attribution of our current inflation to supply chain issues:

“Supply-chain bottlenecks” is the popularized rationalization for the surge in prices. But the supply-chain story sheds more shade than light. Consumer prices are higher because prices are rising at the points of production, assembly and transportation. This is a description of the state of affairs, not its source. The Fed’s inertia in withdrawing extraordinary monetary policy—amid full employment—is the proximate cause of surging prices.

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