CAL THOMAS COMMENTARY JULY 18, 2022
THE INFLATION RATE LAST MONTH WAS 9.1 PERCENT, ADDING ABOUT $500 A MONTH TO THE AVERAGE HOUSEHOLD’S EXPENSES.
LAST WEEK WE LEARNED WHOLESALE PRICES IN JUNE JUMPED 11.3 PERCENT. YOU CAN SEE THAT AT THE SUPERMARKET WHEN YOU BUY ESSENTIALS LIKE MILK, EGGS, BREAD AND CHEESE. WE ALL FEEL IT, ESPECIALLY THE MIDDLE CLASS AND POOR.
HOTEL AND CAR RENTAL PRICES ARE UP SHARPLY, TOO, AS ARE AIRLINE FARES. COMPANIES ARE TRYING TO MAKEUP FOR LOST INCOME DURING COVID.
PRESIDENT BIDEN SAID LAST DECEMBER THAT INFLATION
WAS TRANSITORY. TRANSITORY MEANS: “LASTING ONLY A SHORT TIME; BRIEF.” DOES THIS SEEM BRIEF TO YOU?
INFLATION AND THE RISE IN WHOLESALE PRICES IS THE RESULT OF GOVERNMENT POLICIES, FROM THE FEDERAL RESERVE PRINTING TOO MUCH MONEY, TO MASSIVE GOVERNMENT DEBT, NOW OVER $30 TRILLION AND COUNTING.
THESE POLICIES CAN BE REVERSED, BUT IT APPEARS THEY WON’T BE BY THIS ADMINISTRATION. THAT’S BECAUSE THEY FEAR THE FAR-LEFT AND GREENIES. AND THAT MEANS THE MESS WON’T BE TRANSITORY. I’M CAL THOMAS.
