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this post was submitted on 11 Oct 2024
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I don’t disagree. People are definitely hurting right now. But inflation is a general terms for the costs of goods and services. Much of the increase we saw from Covid was unchecked price gouging from corporations. It is not realistically in control of the president. Of course the government could regulate, and while they should, we all know that won’t happen on any scale that is needed. Therefore, believing that inflation is an important aspect to this election is misdirected anger over something that is in control of billionaires and massive corporations. I understand this misdirected aggression, but it’s a shame that people are focusing on that being the most important thing this November. To me, it’s avoiding fascism and project 2025.
It doesn't help that so many economists, the tech priests of capitalism, didn't believe that it could be a thing that companies were gouging people. They were blaming it on workers, high employment and high wages for the longest time and not the true culprits. I still feel like the media hasn't caught up with the cause, except for maybe Jon Stewart if you count him as part of that.
Inflation is explicitly not:
It's a general term for the change in the costs of goods and services. It's not a merely technical distinction and I think it explains the difference between your take and mine above.
Otherwise I mostly agree. I do think the president has a bit more indirect influence on inflation in particular than you're allowing, but otherwise I think we're basically on the same page anyway.