The government has expanded the money supply by over 35% since the Covid Pandemic began. The printing press was being run 24/7 and the output was dropped out of helicopters on everyone, whether they needed it or not. In addition, they forced huge sectors of the economy to shut down for months and even longer. What we have is more money chasing fewer goods and services. A recipe for inflation in any scenario.
To make things even worse, they impaired domestic energy production by cancelling the XL pipeline. This has forced us to import more oil and gas at much higher rates. And labor costs, were not spared. People were paid more to sit home than return to work, minimum wages were raised significantly, and unions were given unprecedented preferences and privileges.Continue reading