The political power of inflation | Washington Examiner

Joe Biden is a man beset with problems on all sides. His domestic agenda has stalled in Congress and is unlikely to be restarted any time soon. His foreign policy has been a disaster. Afghanistan has collapsed, Russia looks set to acquire portions of Ukraine, and China is making noises about possessing Taiwan. And, of course, the coronavirus still rages. It was irresponsible and foolish of President Biden to promise as a candidate that he would shut down the virus how does one shut down a highly communicable disease? but promise he did, and he has caught the blame.

But of all the problems plaguing his White House, the most dangerous is inflation. If unchecked, it could destroy his party s prospects in the November midterm elections and perhaps beyond.

via www.washingtonexaminer.com

Personally, I tend to think inflation at its current high levels is indeed likely to be transitory, but we’ll probably have to go through some pain first. Such as a bear market in assets like stock and though I hope not real estate. Let us pray: Dear Jesus, please let the stress tests applied to the portfolios of your faithful prove conservative and accurate. Let not inflation brought on by the profligacy of our rulers so dissipate our savings that we are brought to ruin, but let them, properly hedged, stand up to the tempests created by the forces of darkness, fear and greed, and so let them accompany us, if you will it, into the peaceful waters of a well deserved rest, as after a long labor. Amen. That should help.