Henry Olsen: The Experts Are Finally Grasping The Real Reason For Inflation

I’ve become somewhat more conservative on this issue.

Over the past year, I have repeatedly seen shortages and price increases at the pump and in the grocery store. I have seen restaurants which are desperate to find workers and which are closing early because no one is willing to work. This isn’t a conservative meme. It is actually happening.

There was one memorable incident that I saw at a Whataburger north of Birmingham when the poor manager was doing everything herself while her black employees were in their car outside in the parking lot smoking marijuana. She pleaded with them to come back to work. They laughed at her and drove off. There was another when I was out walking and the manager of an Arby’s was explaining to the franchise owner that she had to close early because no one was coming to work at 1 PM.

Even I see this and I don’t go out much. It is impossible not to notice this combination of high prices, help wanted signs everywhere, shortages and small businesses struggling to find workers.

Washington Post:

“Data released on Wednesday show that inflation for December rose 7 percent, the highest rate since 1982. The bad news is that this is likely to continue for some time. The good news is that at least some experts are finally grasping why inflation is so high: excessive pandemic relief spending.

Prices have spiked over the past year in virtually every major category of consumer spending. News reports have focused on large items such as gasoline (up 50 percent) and used vehicles (up 38 percent).

But the recent price report shows inflation is pervasive: Food is up 6.3 percent, topped by a 12.5 percent hike in meat and poultry prices. Furniture and bedding is up 13.8 percent while clothing has increased by 5.8 percent. Going on vacation? The price of hotels and motels is up 27.6 percent and rental cars are up 36 percent. Moving? That rental van will be 9.2 percent more expensive than a year ago. Staying home? It costs 6.3 percent more to turn on your lights than it did a year ago. Prices are rising fast no matter what you do. …”

Government spending has been excessive.

The Democrats are also unwilling to raise taxes now to pay for it.

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  1. Yeah, the politicians have two choices, raise taxes, and raise interest rates. Both will be unpopular. The longer the politicians wait, the harsher the penalty and the price.

    A 1/4 point rise in interest rates in March will be pissing in the wind, two or three 1/4 point raises for the rest of the year will be more of the same. The Federal Reserve needs to call an emergency meeting and raise interest rates at least 1/2 of a percent now!

    A tax increase is coming, but, not until the mid-terms are over.

    Remember this, “Liberal democracy” or just “democracy” in the United States is made up of gangs of lawyers in the county seat carving up the spoils. Even in major metro counties.

    • I would nationalize the FED, Blackrock and Vanguard, arrest the directors for conspiracy and fraud then issue survival checks to all US citizens until the economy can be rebuilt properly. Close all public Universities for personnel review and replacement. Hospitals are trickier but essentially the same. Charges against FDA and NIH directors and drastic cuts in funding. Anyway, you get the idea.

      • “until the economy can be rebuilt properly”

        Nope, not happenin.
        America has lost its WHITENESS, we’re a browning nation and all that comes with that, poverty.

    • “interest rates at least 1/2 of a percent now!

      A tax increase is coming, but, not until the mid-terms are over.”

      Either one will cripple the economy, severely.
      They need to raise interest rates several percent, as Volker did, but they can’t, the federal debt would then consume most of the budget.
      Raise taxes, consumers will stop spending, that’s a loser.

      Again, to repeat myself, when fed debt > GDP the wheels fall off.

      Plus, America has lost its WHITENESS.

  2. Funny how our stupid capitalist conservatives used to make fun of socialist countries like Venezuela for their empty supermarket shelves. Who’s laffing now, you MAGA morons?

    • This country has morphed into a sick and perverted version of the USSR over the course of my lifetime.

  3. I don’t give a flying fuck if the inflation would have probably happened anyway under orange dump.

    When you intentionally help him lose power by covering for fraud and making disingenuous arguments against him you can’t make that argument in good faith anymore.

    I hope the DC metropolis burns.

      • Both. The fraud has been going on for a decades unopposed. Remember Doug Jones winning so handily in AL – with “voters” literally bused in from all over the country? It was brazen fraud and Dumpf and the R-jerseys let it go unchallenged. As I’ve noted here before, the Repukes willingly entered a consent decree with a kritarch in 1983 to never contest dubious vote counts in negro districts (holding the polls open hours after closing, more votes than residents, etc.). They abided with this decree until it was not renewed by the kritarch due to the wicked creature’s passing from old age. It’s no longer in force but only noise made about the fraud was after 2020. Also note they’ve done absolutely nothing about it (as usual), even in places (like AZ) where they could do something.

        You’re correct that the emphasis on the massive fraud draws attention away form Dumpf’s crap campaign in 2020 (endless dindu-fellation with free-shit and get-out-of-jail-free cards), not to mention 4 solid years of stabbing his base in the back while engaging in the longest sustained suck of the Schlomo-schlong in recent memory, topped off with sheer retardery in handling the release of a deep-state bio-weapon. The Repukes probably lost the Senate thanks to fraud even if Dumpf himself didn’t – but neither Dumpf or the R-jerseys did anything to prevent it. They’ve only themselves to blame assuming they were actually opposed to it. Yes plenty of whites stayed home in November 2020, including me. To borrow from Henry Ford, you can vote any way you like as long as it’s for a shabbas-goy or a Jew.

  4. Inflation is theft. Pretty simple concept. Printing lots of money robs the value of labor from middle and working class people. Inflation is a tool for elites to plunder us.

  5. Well, these jobs that are suffering are underpaid, part time, and have no health care so no wonder people don’t want to do them when they are handing unemployment out like candy. It seems a largely black demographic of underclass employees has picked up and gone home to “Netflix and Chill” with their newly legalized weed. In 25 years Generation Bastard film directors, if the country is still solvent, will be making these “remember when” movies portraying the covid years as a golden age of fun for the youngins’ hanging out and not working or going to school with levels of weed not even Cheech and Chong ever achieved.

  6. Michael Hudson gives a much better (but not perfect, being not fully socialist) explanation of this “high inflation” (historic level of mass theft of wealth from the working class) in this interview on Moderate Rebels. I recommend watchng this:

    • The video link was working fine here on OD, at least for a while this afternoon, yet this evening it’s “no longer available,” but it really is still available. The same link that I posted here – https://www.youtube.com/watch?v=m7eAbbVMr_4 – still works fine when I use it and the video is still available. Michael Hudson is excellent on inflation and many other economic subjects.

    • Well now it is working again here! I’m sorry, but when I visited this page a few minutes ago, there was a message, over a black space, that said “this video is no longer available.” A glitch, perhaps. Now it’s back. Sorry for so many comments today.

  7. Kamala and Joe are puppets in a fake “left” comedy destroying all hope (for equality) in the masses, preparing the masses to acquiesce to the swing to the hard right that is surely coming, now that FAKE leftism has so obviously failed. The bipartisan renewed Right will be even more wrong, and much, much stronger, than the old fake “left” that has now been fully discredited.

    • It’s probably way past time we stopped using terms taken from late 18th century France. “Right” and “Left” have been emptied of meaning. Kamala and Shitpants are puppets on strings, just like Dumpf before them. Outlawing usury with the asset-forfeiture of all usurers would be a good start (Jubilee at gun-point, put another way). That won’t happen until the empire collapses.

    • You people have a fatal flaw. The type of “Equality” you desire is impossible to achieve.

      • Equality is a myth. It does not exist in any meaningful way – either physically or spiritually. Those who promote and elevate it as the supreme ideal are either idiots or liars. However the state has a legitimate office in ensuring accurate and fair weights and measures, and by extension a marketplace open to all of its citizens. Usury creates rigged markets like the one which operates in the Banana Empire (where Blackrock just admitted to controlled some 10 trillion in assets).

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