Inflation messes with people’s heads, and not in a good way. From Jeffrey A. Tucker at brownstone.org:
This has been a week of spin, with every regime apologist assuring the public that inflation is getting better. Just look at the wonderful trend line! In the footnotes, you find the truth: it was a tiny drop and mostly for technical reasons and the main reason for the drop has already disappeared from the price trends.
The new claim: inflation will vex us for a bit more time but will settle down in a few months. It’s all Putin’s fault, plus the virus. In any case, the president is working to fix this.
Has any political propaganda on this topic ever been this ineffective?
The producer price index that came out yesterday paints a clearer picture. It’s grim. It reveals no softening at all. In fact, it shows that there are plenty of price increases in the waiting. Here is the year-over-year change in the PPI by commodities 2013 to the present.
Remember how last year many people finally came to the conclusion that we had to learn to live with covid? That was a smart choice because there was no way that the China-style suppression method could work.