by James T. Moodey
American Thinker
Inflation causes poverty, and the poor have no defense. Kamala Harris said inflation was caused by the COVID crisis. More recently, she said it is caused by greedy retailers. No, Kamala — it was caused by you and Joe, and no one else.
We are letting her off the hook for two reasons: by allowing the use of a bogus inflation chart and by blaming the money supply rather than her as the direct cause of inflation.
In their first week in January 2021, Joe and Kamala cut off every source of oil within their jurisdiction. In the very next month, three things happened: our domestic production of oil plunged from 13.1 million barrels per day to 9.7, oil prices doubled from $55 to $110 per barrel, and the monthly inflation rate leaped from 1.4 percent to 9.6 percent.
The red-herring inflation chart they offer shows inflation peaking six months later, which distracts from the fact that their action was the sole cause of inflation. It is a “trailing average” chart.