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It's a lot worse in countries that depend on Russia/Ukraine for food.
They not only have high inflation but really have no food..like none.
if they cant get wheat grains from Ukraine or Russia,they cant make bread,people stuff themselves with bread,pasta,noodles,pancakes.
of course Marie Antoinette would switching to cake or Rice .
Should the government enact price controls like in the 70's? If not now, when?
No, because the Wage & Price Freezes that both FDR and Nixon levied were to stop Wage Inflation.
Actions have consequences.
When you stupidly shut down economies for STUPID-19 it does not cause the 3,000+ cargo ships on the high seas to drop anchor and wait for the malfeasance of governors to open the economies back up.
Cargo ships have a limited quantity of fresh water for crews and it wouldn't be too long before they were drinking each others' pee to keep from dying of dehydration.
Ports are jammed with cargo ships waiting to off-load their goods and even before the idiot governors opened their economies back up, few longshoremen were off-loading ships.
On top of that, you now have incredibly intense competition for transportation services.
Why should I haul a trailer full of strawberries for $0.35/mile when someone's gonna pay me $0.65/mile to haul something else?
That's why you're shelves are bare and that, in combination with higher fuel prices are why food prices are going up.
17 Nobel laureate economists say Build Back Better will help ease inflation, but "TMSRetired" says the opposite.
Hmm, who do I believe?
The old joke used to be, "Ask seven economists the same question and you'll get eight different answers."
Think tanks exist for the sole purpose of providing a headline to which tortured logic may be attached.
The BS that follows the headline really doesn't matter because no one is going to read it anyway.
Instead, people like you will come on forums like this to repeat their ridiculous claims as though 17 award-winning economists couldn't possibly be working for organizations, directly or indirectly, that will be first in line for the trillion dollar give aways.
The fundamental economic concept is that printing money without a corresponding increase in production is inflationary.
A year ago, a dozen eggs from Walmart were 88 cents. Today, $3.29. Isn't that more than 6.4% increase?
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