Inflation is out of control right now with costs for food, fuel, and housing hitting nearly record highs.
Yet the Democrats want to place the blame for this outrageous inflation exactly where it doesn’t belong.
And Democrats are blaming inflation on the last thing you’d ever expect.
Democrats claim “corporate greed” is the cause of inflation
Most economists know that inflation is caused by monetary policy set by the Federal Reserve and through debt-financed, out-of-control government spending, yet leftists are pointing the finger at U.S. corporations.
Democrats are accusing major energy corporations and other large companies of making record profits as a result of raising prices to consumers.
Democrat Senator Mark Kelly of Arizona is airing a TV campaign ad accusing oil companies of “price gouging.”
Newly elected New York Democrat Pat Ryan continues to blame major utility companies for “having too much power” and ripping off consumers.
And Pennsylvania’s Lt. Gov. John Fetterman is vowing to prosecute corporate executives who artificially raise the price of goods or services.
While Democrats are busy blaming corporations, they forget that their COVID-19 stimulus plan threw huge sums of money into the economy all at once.
When you create money out of thin air at a rapid rate and manipulate interest rates during times of crisis, as the Federal Reserve has done, inflation is the result.
It’s clear that Americans are concerned about inflation, and the Democrats are taking advantage of that concern by placing the blame everywhere except where it belongs.
Corporations are indeed seeing record profits, with numbers as high as $2 trillion for the first time.
But profits alone are not the core cause of the price of housing, fuel, and everyday goods increasing for the average consumer.
Misplaced blame just means more pain for voters
Playing the economic blame game and demonizing corporations won’t help to reduce inflation.
What should be done is to implement new policies like opening up areas for oil drilling, bringing manufacturing back to the U.S., and letting the free market determine the cost of goods and services.
Allowing the Federal Reserve to continue printing money nonstop and play around with interest rates is also doing much more harm than good.
But Democrats would rather accuse American companies of price gouging and stealing money from consumers via higher prices.
At the same time, Biden’s CHIPS and Science Act is giving over $50 billion to huge corporations, the same scapegoats Democrats are blaming for high prices in the first place.
It seems that Democrats have no problem condoning corporate welfare that will ultimately land on the backs of the American people.
While inflation has slowed somewhat for the moment, the cost to borrow money has continued to skyrocket, making buying items like homes and cars nearly impossible for some Americans.
The war in Ukraine and ongoing supply chain problems have also caused prices for everyday goods to go through the roof.
Until the Democrats start placing the blame where it belongs, the American population will continue to suffer, regardless of the party’s talking points blaming corporate greed.
US Political Daily will keep you up-to-date on any developments to this ongoing story.
