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Plutocrats worldwide continue to have self-serving tunnel vision about economics.
The United States mid-term elections, according to media everywhere, is about how Biden messed up the economy by creating inflation. He supposedly did this by putting more money into the hands of consumers, thus having more money chasing fewer goods.
Remember those few thousand dollars you got sometime back to help when everything was going kablooey? Yeah, I barely remember that, too. That money is long gone. Oh, but then there was the Inflation Reduction Act which was, oh, several billion dollars. Yeah, maybe it’s those dollars that are creating inflation. Except that bill allocates spending over ten years, so only a small fraction of that is currently going into the economy.
None of those dollars are causing inflation. Furthermore, this inflation is a worldwide phenomenon and other countries aren’t blaming Biden for THEIR inflation. Presumably, if national leaders cause inflation, Boris Johnson and then Truss caused in the U.K., etc. Clearly, there is a worldwide cause for a worldwide phenomenon.
Now, what could be at play? What worldwide phenomena could be at work here?
I seem to vaguely remember that COVID and climate collapse are disrupting supply lines. In most countries, even…
