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Items tagged with: inflation
Sources of America’s Hidden Inflation
How market power jacks up prices, and how Trump’s policies add to the pressureRobert Kuttner (The American Prospect)
The pain is acute because price increases are outpacing wage gains for most American households, especially those with lower incomes. The gap between wage growth for the most affluent & least affluent households has been larger this year than at any time in the past decade, according to Bank of America Institute, which uses proprietary data from the bank’s enormous customer base.
#Trump #economy #inflation #affordability #CostOfLiving #recession #trumpcession #WealthGap #idiocracy #kakistocracy
Reducing illegal #immigration is a worthy goal, its long-term economic effects are complex. But #Trump’s cruel, chaotic campaign to deport & drive out undocumented immigrants is creating #labor shortages that in turn increase #prices. It is part of the reason #food prices were rising at an annual pace of 3.1% as of September, the last data released *before* the government shutdown.
#economy #inflation #affordability #CostOfLiving #recession #trumpcession #idiocracy #kakistocracy
“But the policies they’ve chosen have created extra costs for businesses, & businesses tend to pass on costs,” Sahm added.
The cost of #Trump’s policies is likely to increase in the coming months.
His most inflationary policy is his campaign to build a wall of #tariffs around the US #economy. Tariffs are #taxes on imports, & they are *initially* paid by the businesses that bring goods into the #US.
#FactCheck #TrumpLies #inflation #affordability #CostOfLiving #recession #trumpcession
Trump’s failure was predictable. #Prices almost never fall across the entire #economy. When they do, it tends to be because of a crisis, such as the #GreatDepression. Trump is responsible for misleading people. But he has not merely failed to keep an impossible promise. Trump has pursued policies, starting with #tariffs, that are making the problem worse by making life in the #US less #affordable.
