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Last Friday, my local paper, the State Journal Register had the following headline: ” Area gas prices hit $4 per gallon ” by Royale Bonds, SJR, USA Today network. The first sentence says: ” Uncertainty in the oil market because of the Russian invasion of Ukraine as well as increased demand and inflation have caused prices to skyrocket” Not once in the article did the writer mention how much Biden’s policies have caused the energy prices to skyrocket. We had high demand and a strong economy throughout Trump’s first three years, before the virus, and we did not have high oil prices because we achieved energy independence. YouTube screengrab On day one of Biden’s presidency, he blocked a pipeline and sent a message that one of his main goals was to destroy the fossil fuel industry in America. That sent a message to OPEC, Russia, and oil traders that the U.S would not be a major competitor and that sent prices soaring. OPEC and Russia are very pleased and much richer, more powerful, and more dangerous because of Biden’s and other Democrat’s policies which most journalists support. That is clearly why we rarely see supposed reporters blame Biden for the high prices. They are complicit.
There are several causes to the current extremely damaging inflation cycle: Increasing government regulations, dictatorial edicts that closed businesses, paying people too much while unemployed, massive new entitlement programs, and the Federal Reserve printing huge amounts of money all contribute.
But the skyrocketing cost of energy is the major culprit for inflation flowing through almost every product we buy or service we use. Cost-push inflation or stagflation are extremely harmful both short term- and especially long term.
The higher prices function like a major tax increase, especially to the poor, middle class, and small businesses who do […]
We Often Feel Like David Taking on Giants
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JD Rucker