People put up with a lot of horseshit from government, but most people instinctively abhor inflation, the government’s hidden tax. they know that they’re getting ripped off. From Alex Berenson at alexberenson.substack.com:
And – yet again – the stupidity of our (Democratic) elites
Just like Jimmy Carter did 45 years ago, Uncle Joe and his merry band of wokesters are learning the hard way that Americans hate inflation.
Even a recession isn’t as politically damaging.
And guess what? We’re right to hate it.
I’ve been writing a technical piece on the causes of inflation and what it means economically (before I covered Big Pharma, I wrote about Wall Street – never thought I’d miss bankers, but at least bankers are honestly greedy).
I’ll come back to that piece. But I’m putting it aside for now to focus on an aspect of rising prices that I’ve never seen properly discussed – how they make people feel. Even when jobs are plentiful, even when wages are rising, even when the economy is generally strong, people have a visceral reaction to price shocks.