Tag: gas prices

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COSTLY POST ELECTION SURPRISES

Is the price of gas determined by politicians? It would appear so, at least in the state of Indiana.  On Monday and Tuesday, gas sold for 3.99 or less at every gas station in town. Wednesday morning, it shot up to $4.19.  Wonder  why.  Were  prices  artificially lowered before election day, in hopes you wouldn’t hold it against Biden’s buddies when you filled out your ballot?    Now, a day later, we have costly post election surprises.

Costly post election surprises. Gas prices skyrocketed after Tuesday.
COSTLY POST ELECTION SURPRISES. The cost of gas skyrocketed on the Wednesday after election day.

The Feds also waited until Wednesday to spring another surprise. Jerome Powell announced the benchmark interest rate to a  range  between .75 and 1%.  This is the largest  hike since 2000, following a .25 percentage point increase in March.  And it’s going to get worse.  They’ll be raising interest rates 7 more times this year, in an effort to fight skyrocketing inflation.  Mortgage payments will be higher, and maybe home prices will quit going up.  They hope.

If you have an  upper middle class income of  $$170,00  to $373,000,   you really don’t care very much. Inflation  may shrink the buying power of  your bank account a bit, but  not enough to impact your life style.  You’ll still be living in your McMansion, going to gourmet restaurants, taking cruises, paying country club dues, and shopping in upscale food markets. You might even brag a bit on Facebook about the places you’ve been and the trips you’ve taken.

However, if you live in the  average US  household  with  a median income  of around $70,000 or $80,000 a year,  you’re headed for a  post election downgrade.  Take vacation plans:   Instead of flying your family to a seaside resort in California or Florida , you’ll be lucky to pitch a tent in a park campground. Steak houses that charge $60 for a 4 oz steak will be reserved for the rich, famous, or those on a company expense account.  Have you noticed the long lines at drive throughs like McDonald’s or Taco Bell?

Looking for some new summer clothes?  You may decide last year’s will do just fine.  Never mind the celebrities who wear thousands of dollars on their backs. Just because they can afford designer clothes, it doesn’t mean you can–unless, of course, your income in in the upper percentiles.

I guess we’ll have to wait until November for things to ease up, right before we elect a new batch of senators and congressmen.    After that, we’ll have to wait for the presidential election of 2024 to hope for a temporary reprieve in the cost of living.

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BIDEN’S SELF FULFILLING PROPHECIES

Biden hadn’t been in office more than a couple of weeks when his pessimistic predictions began. “The virus is going to get worse before it gets better,” he said on Jan 21, 2021.  Sure enough, it did. One year later, he announced he would be sending out free virus testing kits and N29 respirator/ masks to all Americans.  They arrived here in our town around the 2nd week in March, 2022. By then,  new cases had plummeted, so the costly distribution of  kits and masks were no longer needed.  Biden’s passive,  self fulfilling prophecies fail the American public.

Biden's self fulfilling prophecies don't help.
BIDEN’S SELF FULFILLING PROPHOCIES are pessimistic and unproductive.

On August 18, 2021  he stated that “chaos was inevitable in the withdrawal from Afghanistan.”  He surely was right about that. Especially when he pulled the plug so quickly that thousands of Afghans  and numerous American service men lost their lives. . Just a little bit of foresight, and a gradual withdrawal, would have made all the difference.

In February, 2022,  Biden said inflation was going to get worse.  He was right. It has.  He also predicted it would taper off soon.  It hasn’t.  Why would it, when so many people in America received stimulus checks they didn’t really need? And even for those who did need the money,  it paid them more to stay home than to go back to work.  Printing unearned money  can only be paid back in one way: inflation.

He also predicted Russia would invade Ukraine.  It did, especially after he showed his hand and promised that no US troops would ever be on the ground there. He continues to encourage the Russian aggression by assuring them there will never be a NATO supported  no fly zone over Ukraine.  Is that how you play poker?

On March 9, he predicted gas prices would rise.   They have. Like about 58%.  I guess he thinks that’s okay because after all “I told you so.”  That’s not good enough.  How about doing something to increase oil production here in the US. What about fossil fuels to the rescue? Why not wait until we’re back on our feet before pursuing “clean energy.”

Three days ago, on March 25, he announced , ‘there are going to be food shortages.”  Going to be?  Like, we don’t already have food shortages?  How many of you have tried to buy saltine crackers, canned soups, and hundreds of other items, only to be greeted with empty shelves?   But now, it’s apparently going to be OK, because Biden  gave us a heads up.  So how will consumers react to that last warning?  For those who can afford it, they will stock up on anything that will keep: flour coffee, meat, baby formula, just to name a few.  All of which will drive up demand and increase prices even more.

I don’t understand how the Biden Administration’s dire warnings are doing much of anything to solve  problems.  A pessimistic, passive approach is not what America needs right now.  We need a leader who not only foresees the problems , but figures out how to keep them from getting worse.