Quote:
Originally Posted by jimjamuser
Today's inflation has a lot to do with factors that NO ONE in the US had ANY control over - namely the Russian invasion of the Ukraine and China's bad Covid response which shut down its economy and stopped their manufactured goods from being sent to the US - thus hurting the SUPPLY of manufactured products, which drove those prices up.
........The closest thing to US blame is that the FED should have reacted faster. But, historically, the FED has NOT gotten its TIMING PERFECT.
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Exactly.
No pipeline was closed, a pipeline expansion was stopped which would not have come online yet anyway. No impact.
Restricting drilling? No, the companies have 1000's of permits they are not using, because the banks that finance new wells don't want to finance drilling right not. (Google it, they took a bath a while back and are Leary that there needs to be more wells)
96% of the world is also experiencing inflation at massive levels, not just the 4% that lives here.
A significant part of Russian invasion and COVID rebound and China lockdown all happening at the same time.