There are some things about the 1970s that I miss. Great music. The Bicentennial. The lack of millennials. Yet, there are some things I wish would stay there.
One of those things is leisure suits, but since they’re not really that relevant, we’re going to talk about inflation. If you’ve been watching your nickels and dimes lately, you’ll see those nickels and dimes aren’t going as far as they used to, say, a year ago. Hmmm…I wonder what happened within the past year that could have caused that to happen. I don’t know, but I’m Biden my time, if you know what I mean.
But if listen to the Left, this current round of inflation is no big deal and we shouldn’t freak out over rising costs. Of course, these same Leftists think Paul Krugman is knowledgeable on economics, so you can take that with a grain of salt. Meanwhile, let’s take a look at inflation from someone who isn’t notorious for being wrong.
What the Left thinks it means – a normal economic condition that shouldn’t concern us
What it really means – an economic condition worsened by bad economic policy
I recognize economics is a subject so dry it makes the Sahara Desert look like Atlantis, but I do have to go into a bit of it to give us a baseline of knowledge to understand the impact.
When the cost of business goes up, goods and services get more expensive, resulting in the producers getting less money for the same effort. The producers then have to make a decision to address the shortfall, everything from adjusting the price to firing employees. More often than not, they raise prices, which in turn affects the value of our money.
But that’s not the only thing that affects monetary value. Politicians indirectly have an impact on it through legislation, regulation, and regurgitation (of talking points). One glib comment from a politician or squawking head and the economy can tank faster than a Proud Boys stand-up act at the Apollo. Even the hint of some new taxes or regulations of a particular industry can create economic instability.
Fortunately, we don’t have a current President who is notorious for making ill-informed staaaaa…oh, crap.
Say what you will about Donald Trump (and, believe me, I have), but one thing I will give him credit for is understanding how the economy works. And before you comment on the number of bankruptcies he’s filed, keep in mind Trump has been a part of the American social fabric since the mid 80s. He’s been all over everything from casinos to reality shows to steaks to online education. He’s the orange Ron Popeil.
Compare that to the laundry list of political and media knuckleheads who can’t tell their assets from a hole in the ground, and yet have the power to impact the economy without knowing how it works. (I’m looking at you, Socialist Socialite.) And, as it turns out, these are the ones who make the statements that cause the most economic headaches.
Take the aforementioned Paul Krugman, for example. He may have a Nobel Prize, but the fact he’s wrong more often than he’s right condemns both Krugman and the Nobel Committee. I mean, would you follow the advice of someone who said the Internet was a fad and would go the way of the fax machine (it didn’t) and advised people to get out of the Stock Market after Donald Trump was elected because it was going to crash (it didn’t)?
Oh, and did I mention Krugman is also one of the people saying inflation isn’t that big of a problem right now?
Although inflation is a pretty easy concept to grasp, the Left doesn’t get it, mainly because they aren’t economically-minded (except when it comes to their own bottom lines). A big reason for that is because they rarely think of money as a tangible matter. To them, it tends to be symbolic in nature, namely as a symbol for the rich oppressing the poor, men oppressing women, and so on. As a result, their “solutions” to the problems they make up…I mean find are simplistic. Just take X amount from Person A and give it to Person B and all will be right with the world!
Of course, they never see themselves as being Person A because they love spending other people’s money on stuff they want. They see money as power, which I can grant them to an extent. As long as they have money, they think they have power, but only they know how to use it property. Just ask them. That’s why there are a lot of rich Leftists out there. And the irony of their greed while chastising others for it is not lost on your humble correspondent.
The problem is their lack of understanding of the actual costs of inflation usually winds up hurting the people Leftists always want to court come election time. When prices go up, the ability for a significant chunk of the population to buy even basic goods goes down. The Leftist solution is to give more of other people’s money to that population while getting them to believe they deserve it, or should I say entitled to it. It works great to keep rich white Leftists in power, but it sucks if you’re constantly on the economic treadmill trying to make ends meet. But it’s never the Left’s fault. It’s always someone else. For example, President Joe Biden blamed the rising cost of beef, chicken, and pork on…wait for it…the meat producers! To believe that, though, you have to believe the Left had no influence on prices skyrocketing due to inflation when they have control over the laws getting passed and policies getting enacted.
But they don’t care because a) they assume everyone is as dumb as they are, and b) most of the Leftists who are okay with rising inflation make enough money to afford it. And it all goes back to their greed. After all, as long as it doesn’t inconvenience them, the Left is fine watching people suffer at their hands.
The Party of Compassion, everybody!
In order for us to weather the self-inflicted economic storm, we need to use our heads when it comes to spending. Cut coupons, comparison shop, budget for needs rather than wants, and do what you can to keep costs down, including learning how to make or grow what you might need to buy. Granted, not everyone is Bob Villa or has a green thumb, but it’s never too late to pick up some pointers or ask questions from those who are more knowledgeable. The one currency that never experiences fiscal ups-and-downs is human kindness. Even if today’s more divisive world, you can find someone willing to lend a hand in times of need.
The other thing we can do, which might a bit harder, is to vote for candidates with a strong understanding of economics. This isn’t a “Vote Straight Ticket Republican” idea, since the knuckleheads who got us into this mess come from both major parties. Take a hard look at what a candidate says and grill him or her on the economy. If they give a half-hearted or nonsensical answer, strike them from your short list. If they give a solid answer or an answer that checks out from the research you do ahead of time, give them a second look. Even if they aren’t your favorite person, ask yourself if you can afford a popular dullard impacting any part of the economy and vote accordingly.
The dollar you save might be your own.