Soaring Oil, Produce, Everything Prices No Biden-Brainer

WSJ reports oil hit $130 per barrel & the Ukraine War is “driving up inflation at US Farms, Supermarkets & Retailers.” Meanwhile, US local govt & retirement funds “heavy on stocks brace for [more stiff] losses". So, will Joe’s progressive economists finally admit “things” really will get worse at home & for a while?

Well, the global supply chain was already slow, gutted and choking thanks to never-ending draconian anti-pandemic mandates, many of which are still in force despite the latest if belated CDC “guidance” (which, btw, “may” be reinstituted across the board if the bureaucrats in DC deem it necessary to “control” what some argue is the uncontrollable virus). But the painfully predictable “economic fallout from the invasion of Ukraine,” the WSJ points out, is also “swiftly raising prices for producers & consumers world-wide.” Hence, the stock market woes.

Well, non-progressive aka unbiased economists had warned all that scarcity and related inflation was going to happen if Mr. Biden insisted on his War on Fossil Fuels that ended America’s “energy independence” won under the Trump Administration AND if Mr. Biden refused to admit that his extreme pandemic lockdowns were causing as much harm as succor, at least, until he got to deliver his State of the Union speech and March Madness was about to begin. Meanwhile, his PR mouthpiece Psaki simply says (with self-righteous indignation) "Blame Putin." Unfortunately, the economy’s “lights on” switch can’t be flicked to turn things back to the way they once were so fast as Joe’s “lights off” switch …

Davd Soul