I would like to respond to Ms. Poe’s article dealing with our economic woes. It was well researched and informative as far as comparisons. But most folk want to know why inflation seems to be such a big deal now. First you need to know POTUS has nothing to do with the market directly, however, many of the policies that are implemented can have an effect on the economy thereby maybe inflation. Even with positive economic policies that can make a difference, Corporate America will always take advantage of the fact that nearly 80 % of our GNP is due to being the world's number one consumer. So, even when actual inflation is just below 4%, prices seem higher. Well, Ms. Poe, the last time a monopoly in was broken up in the U.S. was 1979. That was the telephone company. Today, we have oil companies colluding with OPEC to keep gas prices higher than what they should be. The oil current price of a barrel of oil is around $74 to $75. Secondly, we are currently the world’s largest producer of oil and natural gas. I mean more than Russia and Saudia Arabia. Look, a year ago a hash brown at the local McDonald's was $1, now it's $1.59. You mean a 4% inflation warrants a 60% increase in a piece of potato? Thousands of companies from Starbucks to grocery stores to car manufacturers have done the same thing. Remember the real threat of the Avarian flu and millions of chickens were destroyed, well that threat not 100% gone, some grocers depending on brand, are still pricing eggs higher. And even though wages have been increasing the past three years, an average 4%, it doesn’t justify the price gauging that has taken place. The U.S. Congress had a bill to stop all the price gauging and penalize corporations who do. Of course, no member of the party in control now voted for it. Finally, let me remind some folk in 1980 when that president took office, inflation was double digit, home mortgages were double digit and even car financing was at double digit, and we survived. I see folk complaining about the gas price, while paying $20 for a scratch-off or nearly $8 for a pack of cigarettes. Inflation will always be a thing. And it is with that knowledge that one needs to search and be aware of the billionaires and major corporations are doing, otherwise you will always feel like you are being fleeced. Bottom line, we are doing better than we were doing three years ago, depending on who you listen to or get your info from, you will always feel like things aren’t getting better.
I just want to add that our economy is the BEST in the world.
The housing market is sky high due to property being available during height of pandemic in which homes were bought in bulk so to speak. In 2022 foreign investing in home mortgages covered nearly 300,000 homes. Then major construction firms had to pay more for material due shipping costs and find more people to work.
