The Warped Politics of Inflation
by Thomas Meisenhelder The recurring mantra from Fox, the Republican Party and the mainstream media is that Joe Biden, government spending, and the rising incomes of ordinary people are responsible for our increasing inflation rate. That is incorrect and this error is preventing an effective national response to inflation. This misconception about inflation leads to policy errors similar to those made in response to the 2008 housing mortgage crisis and economic recession. Somehow the media and the politicians understood that crisis to be the result of unwise decisions by consumers and overly generous government housing policies. In other words, ordinary Americans were the problem. As …