Inflation: The Good, the Bad, and the Truth

Republicans are attempting to use inflation as a campaign tactic, unfairly attacking President Biden and Democrats for the situation. I will offer you some facts offered by economists, and the overall truth which the mainstream media and our government refuses to admit.

Don’t Believe the “Reasons” Offered to Explain the Current Inflation

Economists who work for government agencies have explanations for everything, including today’s record inflation.

Let’s begin with one fact on which we all agree. Employment is reaching new levels, and there is more disposable income available for the working class. However, the actual reasons for this intentional inflation are far more sinister and simple to understand.

The first lie is ‘supply and demand.’ Less available product forces an increase in prices. However, during the height of the pandemic, there were few shortages, and regardless of the supply, prices remained stable. More importantly, many of our largest corporations experienced a huge increase in profits.

Some of the “experts” blamed the interruption of supply lines. Although there was a short time when congestion at our nation’s ports created problems, this was short-lived.

Greed is the Only Reason You are Paying More for Everything

The real reason for high prices on nearly every commodity is much less of a mystery. It’s called “greedflation.” Over the last 30-40 years our largest corporations became even bigger as mergers reduced the number of companies that controlled the production and distribution of nearly everything. What is being called “inflation” is nothing less than greed and in most cases an effort to help Republicans win elections. The first effort by every Republican administration is to reduce taxes for billionaires and millionaires.

The following is just one example of pure greed and obvious disdain for the American people.

In April, Procter & Gamble announced it would start charging more for consumer staples ranging from diapers to toilet paper, citing “rising costs for raw materials, such as resin and pulp, and higher expenses to transport goods”.

But P&G is making huge profits. In the quarter ending 30 September, after some of its price increases went into effect, it reported a whopping 24.7% profit margin. It even spent $3bn during the quarter buying its own stock.

Commercial Airlines Must be Allowed to go Bankrupt

Another example experienced by millions of Americans is not only unforgivable, but it is also a crime against the American people.

Commercial air travel has become an unpleasant, and even painful experience. Not only are fares too high, but travelers are also forced to pay for every amenity which was formerly part of the price of a ticket. To increase profits, more seats have been added to increase the number of passengers per flight. I can only describe this as painful. And God forbid you should find it necessary to change your flight. You will pay a huge penalty.

Now for the ultimate insult. After 9/11 your tax dollars were given to the airlines to prevent bankruptcies. The same occurred in 2020 and 2021 because of the pandemic. Let me tell you a fact. I worked for an airline in Los Angeles between 1967 and 1976. All airlines were so poorly managed they needed government subsidies to exist. When all federal government controls were removed in the early 1970s, the paying public suffered, not the executives who operated the airlines poorly.

Inflation: Corporations Control an Entire Political Party

The few corporations which control the distribution and cost of every commodity are members of the 10 percent of Americans who control 90 percent of America’s wealth. They don’t care about you, although they try to make you believe otherwise with expensive television ads.

Over the last 40 plus years, America has become a plutocracy: it is no longer a capitalistic society. Every major decision in Washington is controlled by 788 billionaires and approximately 23 million millionaires.

No one will tell you the truth with the exception of writers like myself because I keep my promise that “The Truth Lives Here.” There is no inflation, there is only greed and our corporations are the enemy of the American people in the 21st century.

By James Turnage, Novelist

Sources:

The Hill: Here’s why inflation isn’t slowing
The Guardian: We need to talk about the real reason behind US inflation

Top and Featured Image Courtesy of Eric Allix Rogers‘ Flickr Page – Creative Commons License

Inset Image Courtesy of Alisdare Hickson‘s Flickr Page – Creative Commons License