Somebody will pay the political price of rising prices, and it’s going to be the Democrats. From Kurt Schlichter at theburningplatform.com:
Most of you whippersnappers were not even Planned Parenthood targets back when inflation was last a thing. It was the late-seventies, which you people associate with funky clothing and disco music. Most of us who lived through that miserable decade associate it with economic malaise, notably including massive inflation and 18% interest rates.
Yeah, think about 18% interest, all you folks with an adjustable rate loan. You’re spoiled by cheap money and low inflation. You are about to learn a lesson in economics. See, when Uncle Sucker prints lots of money and there are fewer things to buy, you get inflation. Prices rise. And your standard of living falls.
Despite the economic insights of Joe Biden and his cast of mutants, there’s no changing it. And no, inflation is not evidence that all is well. That’s like a leper saying “Well, now that my big toe fell off, there’s less stuff to be infected. I’m cured!”
You are already seeing the results of the flood of fiat money wished into being by a liberal Congress. We have not gone full Weimar yet, but if they pass this BBB thing, life will be a cabaret.
If you have a car right now, good for you. It’s worth a lot more than it was six months ago. You can sell it and maybe make a profit. I scored by buying out a lease for a price set pre-inflation three years earlier – you should have seen the dealer wince. But if you need a new or used car, uh oh. Between the supply chain problems getting new vehicles (the manufacturers can’t get parts to build them, and once they do there’s the nightmare of moving what cars they do have to the dealers) plus the shortage of old ones to sell used, it’s a nightmare.