Inflation Joe Laughs As Little Guy Weeps?

Mike Rowe says gas prices are crushing truckers in “real time” & it reminds us of how any economic upheaval has “winners & losers” … But … the “L” is usually reserved for the middle class and poor. Not that DC’s fat Swamp Cats care?

In its “The Bitter Fruit of Inflation“, two WSJ contributors recalled the 1970’s debacle circa the Jimmy Carter Era: “Those who suffered the most,” they observed, were middle-class workers hit by rising prices, especially for energy, surging way ahead of wage increases.” Fast forward to today as Rowe notes how the “trucking industry is grappling [unsuccessfully] with inflation as diesel prices hit an all-time high.” On “Fox and Friends, he elaborated: A trucker “said to me the other day, it’s like … falling down the stairs in slow motion … We know it’s coming. We’re watching it happen … and it’s not just diesel [prices]. It’s not just gasoline [prices] … If you bring it back to food … it’s an eye-opener. But, you have to talk about fertilizer too … There’s no food without fertilizer … The cost of fertilizer is hundreds of percent higher than it was. When you combine that with the cost of energy, the average person has now really gotten the memo … The cost of steak is 2 times what it was 6 months ago.”

In a recent WSJ op ed, debunked was the notion that today’s inflationary cycle was “transitory” or that “next year will be a soft landing” as Biden officials parrot the familiar talking point. Now, the newspaper warns, even Democratic economists like Paul Krugman are conceding a 5-8% inflation may be with us for several years to come. Joe Biden guffawed at jokes made about this “new normal” at the White House Correspondents dinner. But, the little & middle guy aren’t laughing.

Davd Soul