Brilliant. Have never heard of the Teapot Dome shorthand. Guessing we have a new Teapot dome on the horizon. As for the current polls, I simply do not put much stock in them. I don’t know who is surveyed and how the questions are answered. People in general do not understand the economy. If the president had any control over private corporations you would not see so much cost for goods in your daily life. Example, just look how many of our goods are controlled by just 2 or 3 conglomerates who control the price. I feel Biden is working hard to remedy corporate greed, but there is only so much he can do without congressional support. Let’s not forget Citizens United in all this. Anyway thanks HCR for today’s summation. I read it earlier today and so thoroughly enjoy your reading the LFAA. Really cements it for me. Thank you.
Why is it so hard for a brilliant commentator like HCR to understand the problem for Biden caused by the pandemic-fueled inflation?
Similar to other commentators, the latest report cites inflation numbers showing that inflation increases are subsiding. While this is surely true, it means nothing to the man/woman in street spending the family paycheck!
Consumers (voters) view pricing based on memory, even if flawed, as to the prices they paid previously. The fact that inflation measures are less this month than last is lost on consumers.
If I paid $4 a pound for hamburger in 2020, and now the prices is $5.24, prices are thought to be way up.
The fact that prices never actually decline to previous levels is not of concern to consumers, many actually think they will even if they never have. Actually if prices do regress there will be many more problems, but again that is of no concern to the man/woman in the street.
Biden must win this election to safeguard Democracy, no question. And, inflation is the number 1 problem he must deal with. He must find a way to actually lower prices to move those who think he is mis-managing the economy (even if most of it is out of his control).
How to do this?
Jawboning is job 1. Biden needs to call out companies raising prices, he needs to stand with the heads of these companys and get them to commit to lowering/not raising prices. Thiose that will not stand with him need to called-out by brand so that voters witll know he is trying to do something.
Using the strategic oil reserves to lower gas prices is number 2, I am sure the administration is looking at the optimal date to release these reserves, it needs to be done near the election.
Government purchasing power is another step that needs to be taken. A directive to purchase from companies that are NOT raising prices will increase incentives not to go higher.
Many stories lately identify auto insurance as one of the main drivers of inflation. Again, the opportunity is to invite the heads of these companys to the White House and commit to lowering prices is important so that voters will know the administration is acting in their behalf.
For commentatiors, I ecommend against trying to tell consimers that inflation is receding, this will not be heard or accepted.
I happened to attend a CA high school in the late 60's that was an "experiment". We lived in a lower income area, only 10% of the Senior class was "college prep" and the teachers were mostly younger. It made a difference in how I view life and politics . We did in fact study the Teapot Dome. Recieving that kind of history early changes your life and voting habits,, in a great way.
Brilliant. Have never heard of the Teapot Dome shorthand. Guessing we have a new Teapot dome on the horizon. As for the current polls, I simply do not put much stock in them. I don’t know who is surveyed and how the questions are answered. People in general do not understand the economy. If the president had any control over private corporations you would not see so much cost for goods in your daily life. Example, just look how many of our goods are controlled by just 2 or 3 conglomerates who control the price. I feel Biden is working hard to remedy corporate greed, but there is only so much he can do without congressional support. Let’s not forget Citizens United in all this. Anyway thanks HCR for today’s summation. I read it earlier today and so thoroughly enjoy your reading the LFAA. Really cements it for me. Thank you.
More on the Teapot Dome scandal, short videos, for those who are interested. https://jimbuie.substack.com/p/teapot-dome-first-major-presidential
Why is it so hard for a brilliant commentator like HCR to understand the problem for Biden caused by the pandemic-fueled inflation?
Similar to other commentators, the latest report cites inflation numbers showing that inflation increases are subsiding. While this is surely true, it means nothing to the man/woman in street spending the family paycheck!
Consumers (voters) view pricing based on memory, even if flawed, as to the prices they paid previously. The fact that inflation measures are less this month than last is lost on consumers.
If I paid $4 a pound for hamburger in 2020, and now the prices is $5.24, prices are thought to be way up.
The fact that prices never actually decline to previous levels is not of concern to consumers, many actually think they will even if they never have. Actually if prices do regress there will be many more problems, but again that is of no concern to the man/woman in the street.
Biden must win this election to safeguard Democracy, no question. And, inflation is the number 1 problem he must deal with. He must find a way to actually lower prices to move those who think he is mis-managing the economy (even if most of it is out of his control).
How to do this?
Jawboning is job 1. Biden needs to call out companies raising prices, he needs to stand with the heads of these companys and get them to commit to lowering/not raising prices. Thiose that will not stand with him need to called-out by brand so that voters witll know he is trying to do something.
Using the strategic oil reserves to lower gas prices is number 2, I am sure the administration is looking at the optimal date to release these reserves, it needs to be done near the election.
Government purchasing power is another step that needs to be taken. A directive to purchase from companies that are NOT raising prices will increase incentives not to go higher.
Many stories lately identify auto insurance as one of the main drivers of inflation. Again, the opportunity is to invite the heads of these companys to the White House and commit to lowering prices is important so that voters will know the administration is acting in their behalf.
For commentatiors, I ecommend against trying to tell consimers that inflation is receding, this will not be heard or accepted.
reference: https://fred.stlouisfed.org/series/APU0000703112
I happened to attend a CA high school in the late 60's that was an "experiment". We lived in a lower income area, only 10% of the Senior class was "college prep" and the teachers were mostly younger. It made a difference in how I view life and politics . We did in fact study the Teapot Dome. Recieving that kind of history early changes your life and voting habits,, in a great way.