dennisbmurphy
2 min readJun 22, 2024

--

Tossing out your credentials is a classic case of the fallacy of argument from authority- as if your Phd outranks others' Phds. Other economists with doctorates disagree with you on inflation.

Oil is a global commodity as you know. And Trump conspired with Saudi Arabia and Russia to drop production so as to raise prices.[1] The USA is drilling and producing more oil than in years so if prices are up it isn't due to Biden policies. Wall Street futures gamblers also impact the price.[2]

When you use the word "Democrat" as an adjective you are yourself parroting GOP talking points. The proper word is "Democratic" but we know the word democratic sticks in the throats of Republicans.

For all your advanced education, to make a ridiculous claim of climate change as "controlling the weather" literally makes you look stupid.

Corporate greed is indeed at play, whether your big brain wants to accept it or not. The CEO of Kellog, during a labor strike, publicly blamed employee demands for higher wages on increased costs of Kellog products- except the employees were not striking for more money- they were striking to oppose Kellog's attempt to impose a two-tier wage system. That CEO was later recorded on an investor call telling them that Kellog was having no issues with supply chain and was positioned very well for price-taking. I.e. Kellog could raise prices because it could and blame workers and supply chain issues while boosting the bottom line.

"‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs" [3]

Inflation is worldwide- are you suggesting US policies alone caused inflation in western europe, China and elsewhere?[4]

Democratic legislation like the Inflation Reduction Act (which was actually an infrastructure bill) was passed in Aug-2022 when inflation resulting for supply chain shortages and corporate greed was at 8.3%. The passge of the bill nor other legislation did NOT cause inflation- we already had inflation. And in fact, despite all that money going out, as you say, inflation dropped steadily. The data (both in the USA and foreign economies) refutes your "spending" talking point. [5]

Don't gaslight us about inflation with your Trumper GOP talking points.

Finally your complaint about the power grid is exactly why the Biden administration boosted spending to improve infrastructure. And don't get your panties in a bunch, it will be quite some time for any sweeping change to EV vehicles.

[1]

https://www.reuters.com/article/economy/special-report-trump-told-saudi-cut-oil-supply-or-lose-us-military-support--idUSKBN22C1V3/

[2]

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.hsgac.senate.gov/wp-content/uploads/imo/media/doc/STMTKRAPELASEdward.pdf

[3]

https://fortune.com/2024/01/20/inflation-greedflation-consumer-price-index-producer-price-index-corporate-profit/

[4]

https://www.imf.org/external/datamapper/PCPIPCH@WEO/OEMDC/ADVEC/WEOWORLD

[5]

https://www.usinflationcalculator.com/inflation/historical-inflation-rates/

--

--

dennisbmurphy
dennisbmurphy

Written by dennisbmurphy

Cyclist, runner. Backpacking, kayaking. .Enjoy travel, love reading history. Congressional candidate in 2016. Anti-facist. Home chef. BMuEd. Quality Engineer

No responses yet