News analysis
The Biden administration is under intense pressure from the universal loathing of the inflation that has unleashed public fury. The most salient increase is in gas prices. The doubling since inauguration, and the record highs, have upended all summer travels, made the work commute unbearably expensive, and severely injured family finances. The producer costs are all devastating for trucking, airlines, and everything else.
The intensity of the pain outstrips the overall consumer price index and also affects utility bills for all residential and commercial properties, busting budgets from coast to coast.
(FRED/Jeffrey A. Tucker)
It doesn’t help that the administration is on record, before taking office and at all levels ever since, in dreaming of the end of all non-renewable energy sources, and a conversion to a world in which we all live off the “wind and the sun”—a dream that effectively reverses most of the industrial achievements of the last 200 years….
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