Despite what the campaign ads might suggest, no candidate or party has the tools to take on and beat inflation into submission.
The current high rate of inflation impacting the United States and world economies is the result of several forces that have caused this economic headwind.
A partial list includes the following.
COVID has exacerbated a labor shortage that existed prior to the virus.
Many workers died, suffer from long haul syndrome and still can’t work, retired or can’t find affordable child care.
Supply chains are still being negatively impacted.
Almost every aspect of our economy is suffering from labor shortages.
The change in climate has caused farmers to plow under withered crops, lost crops due to high wind, hail or flood damage.
Drought is causing rivers to dry up, disrupting commerce along waterways, reduced hydropower and causing water shortages in critical agricultural areas.
Population growth around the globe has created more demand for oil and natural gas which, coupled with the war in Ukraine and the decision by OPEC to cut production, puts upward pressure on prices at the pump.
The US produces enough oil and gas to meet its needs, but these are priced on the world market.
Corporate greed has also played a role.
In summary, these and other forces are responsible for driving up commodity prices around the world and what you are paying at the pump, and at the grocery store.
Think twice about voting for a candidate who makes promises they cannot keep.
Russ Mellon
Sequim