Tornado Alley (PROG)

[fuagf]

conix, No. If you blame Biden's stimulus bill you have to go back to Trump's. If you were more honest you agree inflation is global, but the fallout from it is local.

A World Running on Empty
[...]
Oh, wait. That inflation record was set not in America but in Germany .. https://www.dw.com/en/germany-inflation-reaches-28-year-high-amid-surge-in-energy-prices/a-59653840 . Stories about food and gasoline shortages are coming from Britain .. https://www.cnbc.com/2021/10/18/gas-crisis-labor-shortages-and-supply-chain-chaos-post-brexit-britain-faces-a-difficult-winter.html . The boiler replacement crisis seems to be hitting France .. https://www.connexionfrance.com/French-news/Which-products-are-or-could-be-hit-by-stock-shortages-in-France .. especially hard.

And one major driver of recent inflation, in America and everywhere else, has been a spike in energy prices — prices that are set in world markets, on which any one country, even the United States, has limited influence. Donald Trump has been claiming ..

Mexico would pay for the gas pic.twitter.com/wdzg6CznyB

— Aaron Rupar (@atrupar) October 28, 2021

.. that if he were president, gas would be below $2 a gallon. How exactly does he imagine he could achieve that, when oil is traded globally and America accounts for only about a fifth .. https://www.eia.gov/tools/faqs/faq.php?id=709&t=6 .. of the world’s oil consumption?

In other words, the problems that have been crimping recovery from the pandemic recession seem, by and large, to be global rather than local. That’s not to say that national policies are playing no role. For example, Britain’s woes are partly the result of a shortage of truck drivers, which in turn has a lot to do with the exodus of foreign workers after Brexit. But the fact that everyone seems to be having similar problems tells us that policy is playing less of a role than many people seem to think. And it does raise the question of what, if anything, the United States should be doing differently.

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