#914 Inflation Is Here And Putin Didn't Create It

The White House is now claiming that inflation is the result of a Putin price hike, and they are refusing to claim responsibility, either directly or indirectly, for the current economic crisis. The use of Vladimir Putin as a scapegoat is as lame as it sounds. It is absurd to argue that the highest inflation in the last 40 years was caused by actions that are less than 6 weeks old.

We can analyze the official inflation numbers until our eyes bleed, but there is no way that the majority of Americans are living with 8.5% inflation. Most of the population is likely experiencing double-digit inflation.

Inflation was reported at 8.5% this morning, which is the highest inflation reading in 40 years. Core inflation was also high at 6.5%. These are obviously astronomical numbers and highlight a dire financial situation for hundreds of millions of Americans.

This is ultimately the problem with politicians in the current environment: They aren't incentivized to solve the problem, but rather they spend their time trying to figure out the right messaging. If wealthy people and politicians were suffering from high inflation, this nonsense would be over tomorrow.

A concerning aspect of the current economic environment is that the Federal Reserve, our elected officials, and business leaders globally have no ammunition left to curb inflation without forcing the United States and other global economies into recession.

Double-digit, real inflation was previously reserved for third-world countries and dictatorships who lost monetary discipline, but now it has invaded the United States. We are at war with an invisible enemy, and we have no line of sight to material solutions.