Inflation the Creation of Greedy Corporations and Incompetent Government

Exxon is preparing a report revealing its largest profits in 25 years. It is an undeniable fact that the reason for this situation is raising the prices of gasoline not out of necessity but to secure those outlandish profits. This rape of the American worker continues, although big oil receives “tax incentives” to produce a supply equivalent to the needs of the American people. No corporation in history has intentionally caused a level of discomfort to the American people as the petroleum industry.

The U.S. Bureau of Labor Statistics said Tuesday:

A release circulating online purporting to show hotly anticipated June inflation figures was a forgery.

“We are aware of a fake version of the June 2022 Consumer Price Index news release that is being circulated online,” BLS spokesperson Cody Parkinson said in an emailed statement.

To clarify the somewhat ambiguous statement, what it means is that inflation is a hoax perpetrated by our nation’s corporations to increase profits and discredit President Biden. Our nation is now a plutocracy created by the Trump administration and his party over four long years of serving the super-rich. The wealthy are desperate to maintain their control over our nation’s future.

The facts are that our nation’s large corporations experienced greater than average profits throughout the pandemic. The number of American millionaires and billionaires grew. The only Americans who suffered were members of the working class.

Without President Biden’s stimulus checks, our country would have suffered from another huge recession. His predecessor failed to take the pandemic seriously and caused pain and suffering to everyone other than his wealthy supporters.

There are various opinions about the root cause of what many are calling “greedflation.”

The well-known economist Milton Friedman believes that the extreme increase in income for our wealthiest men and women over such a short period of time is to blame for the overly high cost of literally everything. The gap in income between the rich and the working class became much wider. Income inequality became a greater problem in which only the wealthy shared the American dream.

Other economists place the blame directly on corporate greed. Right-wing politicians are suggesting that a rise in labor unions is the cause.

As a senior living on a fixed income, I can tell you that I don’t give a damn about the cause, I demand that our government and the suppliers of our gasoline, food, utilities, and other necessities get together and fix it. One-half of all Americans live at two economic levels: those who are below the poverty line and those considered low income who are literally one paycheck away from slipping below the poverty line.

The next time I hear a politician make the statement that America is the richest nation in the world, I would like to see someone stuff their grocery bill in his or her mouth. This ludicrous statement only refers to seven percent of all Americans. Do you feel rich? I sure as hell do not. Trickle-down economics and other actions designed to protect the profits of the wealthy have negatively affected the majority. Our nation’s national debt has reached a level that cannot be repaired over the next three generations.

It seems impossible that it has only been 21 years since Bill Clinton left office in 2001, and our treasury was experiencing a surplus. The next president was a Republican and the root cause of where America is today.

Op-ed by James Turnage, Novelist

Sources:

The Heritage Foundation: The Real Story Behind Inflation; by Michelle Cordero and Tim Doescher
Daily KOS: ExxonMobil’s 2022 Q2 earnings could be one of the Big Oil company’s best quarters in 25 years; by April Siese
Bloomberg: US Statistics Agency Says Inflation Report on Internet Is Fake; by Olivia Rockeman

Featured and Top Image Courtesy of Ashish Choudhary’s Pixabay Page – Creative Commons License
Inset Image Courtesy of Marco Arment’s Flickr Page – Creative Commons License