WARNING: Another Spike Ahead for Idaho Gas Prices
Think inflation can’t get worse? Buckle your chin straps and get ready for a rough ride. The news isn’t getting better and it may be a long time before we see price increases stabilize. Some economists are predicting double digits and believe it’s already here but masked by changes to the Consumer Price Index.
One driver of the spiral is the cost of energy. As I write this, Brent Crude is trading in the neighborhood of 85 dollars. A considerable spike from just a couple of weeks ago. There also remain predictions the price for a barrel could reach 100 dollars or even 150 dollars. Brent Crude was below 70 dollars at the beginning of December. One year ago, it was under 57 dollars a barrel.
We'll be Walking More and More
Do some math. Driving is going to be getting much more expensive this spring and summer. Consider what it’s going to cost to ship goods all over the country.
We’ve got bare shelves in many stores and the price for groceries and goods reflects the supply crunch.
Biden is a Deer in Headlights
I keep reading stories from Biden-friendly news media and the writers claim the President has no control over the issue. Baloney! Ronald Reagan teamed up with the Federal Reserve, taming an even worse bout of rising prices in the early 1980s. If it hadn’t worked, Reagan and the conservative revolution would’ve come to an end on January 20th, 1985.
Biden and his fellow Democrats fear higher interest rates, which slow inflation but also slow the economy. There’s an election in a little under 11 months. The way I see it, the liberals are danged if they do and danged if they don’t. Inflation angers voters. Higher interest rates anger voters.
Had these people not all been cheerleading due to lockdowns and feeding COVID panic, we might not be here. Look at it this way, libs. Your chickens have come home to roost.
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