16 Jun 2022 9:12 am
Anyone living through high gas prices and the price of just about everything going up would falter the Biden administration. Yet, unemployment is at record lows and incomes have nearly doubled for the bottom 50%. Is this the reason for the inflation? From my understanding, oil companies are making record profit as are businesses raising prices. Link to Bloomberg article here. Perhaps the bear economy is backlash? That does sound a little conspiracy theory like but the inflation seems to be more of a behavior than an economic necessity.
Nothing is easier than defending the status quo.