Where Does Michigan’s Own Rep. Rashida Talib Think Inflation Comes From? It Is A Hoot!
The very simple definition for inflation is there are too many dollars chasing too few goods. Every economist worth the paper their degree is printed on would confirm that. Anyone who is an honest person knows that prices on all goods have been increasing at an alarming rate. Last month our inflation rate was calculated to be 7.5%, the highest in 40 years.
That is not what Congresswoman Rashida Talib believes. She believes that none of the policies of her party, including the injection of $1,900,000,000,000 dollars into our economy back in March of 2021 from the world’s largest Covid-19 slush fund otherwise affectionally known as the American Rescue Plan. A consensus of economists all agreed that the economy was coming back at that time and those funds were not needed. The consensus of non-TV economists also believe that the 1.9 trillion dollars was the straw that broke the inflation damn open.
One of the most intellectually challenged members of our Congress believes there is no inflation today in the United States. She believes it is the corporation’s fault.
The pandemic has been great for the richest Americans who have lined their pockets and doubled their wealth…Corporations have the nerve to blame inflation while consolidating their market power and raising the price of essential goods and services…For me, this is not inflation; it’s extortion.
I would like to point out that if she believes that there is no inflation just corporations charging more, she then believes that capitalism no longer exists in the United States. If there were capitalism in the U.S. the market forces would drive down prices through competition.
Rashida also argues that capitalism is rampant throughout the entire U.S. along with systemic racism. Rashida, we cannot have capitalism that is rampant throughout the entire U.S. and not have capitalism which would allow corporations to charge whatever they want for their products and services.
Which one is it Rashida?
Is capitalism rampant through the U.S. or not?