This entire issue of inflation has received too much attention, and the press have done an abysmal job of reporting on inflation constantly referring to the price of eggs as an example. First and foremost, it is rare when there is no inflation in the economy. Second, presidents have only marginal control over inflation whether it be too high or too low. It is a fool’s choice to base who you vote for to lead the country based on inflation, or the example of the price of eggs, milk, produce or any other consumer good. It is moronic to choose who you vote for to provide insightful, intelligent and honest leadership of the country based on any single issue including the price of eggs, gasoline, homes, property insurance or any other issue that is much more complex than simple answers and solutions. Any candidate that simply states that they can easily fix these wide-ranging issues is a liar.
The American public are a bunch of whiners that complain about everything believing they are so put upon as individuals there must be someone to blame. For example, if gasoline prices suddenly go up it must be responsibility of the president because somehow, he controls global oil prices. Currently the United States produces 21.91 million bpd (barrels per day). Saudi Arabia produces 11.13 million bpd. Russia produces 10.75 million bpd. Canada produces 5.76 million bpd. China produces 5.26 million bpd. The U.S. produces slightly more oil per day (21.91 bpd) than it consumes (20.5 bpd) making the U.S. technically oil independent. However, the oil industry lobbied for legislation that allows exports which in turn subjects the American consumer to global oil prices. This has nothing to do with the control the president has over oil prices but when ignorance abounds throughout the country someone must be blamed. These are the following nations that have higher gasoline prices than the U.S.: (Uzbekistan Panama* Ghana* Guyana* Puerto Rico* Brazil* Philippines* Japan*…. China* Botswana Georgia* Swaziland DR Congo India* Suriname* Peru* Curacao* Tanzania* South Korea* … Canada* Armenia Ethiopia Jamaica* Mexico* Cameroon* Sri Lanka* Fiji* Moldova* Burundi Mali Burkina Faso* Guinea Zambia* Cape Verde* Mauritius* Costa Rica* Ivory Coast* Bulgaria* Aruba* Malta* Chile* N. Maced.* Laos* Bosnia & Herz.* Morocco Uganda Malawi* Kenya* Ukraine* Mongolia Romania* Bahamas Cayman Islands* ….. Switzerland* Norway* Liechtenstein Netherlands* Denmark* Iceland* Monaco Hong Kong*) As you can see the list is extensive of countries, well over one hundred, that have higher gasoline prices so take that into consideration, some much higher, when our gasoline increases because of external circumstances not what the president does or does not do.
Considering the price of eggs, in March 2024 the average price of a dozen eggs in the U.S. was $3.40, UK $3.79, France $3.96, Ireland $4.17, Sweden $4.50, Norway $5.06, Switzerland $5.79, and New Zealand $7.00. So, as you can see the price of a dozen eggs is not exorbitantly out of line with much of the developed world. In fact, in 1950 the cost of a dozen eggs was $.60 (about $6.30 per dozen today adjusted for inflation). Other worldwide consumer goods have similar pricing when compared to the U.S. We tend to believe that we have higher prices on almost everything when in fact we often rank right in the middle of most developed countries. Also. When adjusting for inflation many consumer goods are less expensive than most people realize. The U.S. has historically had cheap food prices when compared to the rest of the world.
Again, we are being misled by politicians that use inflation to rile up people to overreact to this economic bogeyman. Yes, inflation can be a real issue to most households, but high inflation usually only lasts a short duration and longer periods of inflation often involve factors beyond the control of government leaders. During our most recent period of higher inflation, it became apparent that some corporations were artificially inflating their price and anti-gouging legislation was proposed but failed because it was not supported by any Republicans in Congress.
One of the presidential candidates wants to round up and depart as many as 11 million undocumented immigrants by first bringing them to deportation camps to await return to their home country, wonder where he plans to get the billions for this boondoggle. What will be interesting is that agricultural production, particularly harvest, relies on 40-50% of this labor supply and taking away these workers will very likely result in much higher cost produce and excess field spoilage. Good luck with the inflation that this type of foolhardy plan will cost every consumer more and cost more for implantation and operation.
Tax cuts for the wealthy coupled with a high-cost deportation program that results in greater inflation for the consumer, bet you all can’t wait for this, America.
