CAL THOMAS COMMENTARY NOVEMBER 12, 2021

HAVE YOU BEEN GROCERY SHOPPING LATELY? FILLED UP YOUR CAR WITH GAS? FUEL PRICES SURGED 12

PERCENT LAST MONTH, PART OF A 59 PERCENT INCREASE OVER THE PAST YEAR. PRICES FOR FOOD ALSO

SHOWED A SIZEABLE BOUNCE, UP ONE PERCENT LAST MONTH AND 5 PERCENT OVER THE PAST YEAR.

SPECIFIC CATEGORIES LIKE MEAT, POULTRY, FISH AND EGGS COLLECTIVELY ROSE NEARLY 2 PERCENT FOR

THE MONTH AND TWELVE PERCENT FOR THE YEAR.

IT’S CALLED INFLATION. WE HAD IT BIG TIME IN THE 1970’S, ONE OF THE REASONS RONALD REAGAN BEAT

JIMMY CARTER. INFLATION OCCURS WHEN GOVERNMENT SPENDS FAR MORE THAN IT TAKES IN AND HAS

TO BORROW, OR PRINT MONEY.

DEMONSTRATING SHE IS TONE DEAF TO THE PRICES AVERAGE PEOPLE MUST PAY FOR BASIC NEEDS,

TREASURY SECRETARY JANET YELLIN TOLD A CONGRESSIONAL COMMITTEE THAT INFLATION WON’T LAST

BEYOND NEXT YEAR AND THE FEDERAL RESERVE WON’T ALLOW A REPEAT OF 1970’S INFLATION. SHE

CAN’T KNOW THAT AND IN THE MEANTIME THE POLICIES OF THE BIDEN ADMINISTRATION ARE LIKELY TO

FLIP THE HOUSE AND SENATE TO REPUBLICAN CONTROL AND LETS HOPE FISCAL CONSERVATISM. I’M CAL

THOMAS.