Brandonflation: U.S. Has One Of Highest Rates In The World

Now, as I’ve written here and in comments and on Twitter, and said in Real Life, this is not all Dementia Joe’s fault. Nor was it Trump’s, or any other world leaders, except for those in China. Inflation is rather just about everywhere, due to COVID. But, other countries have responded better. Biden has made it worse

U.S. inflation is one of the highest in the world

Inflation has taken its toll on much of the world recently, but the United States has stood out as one of the most affected in the last few months.

With a 6.2% annual inflation rate in October, the U.S. is now seeing prices increase at the highest rate in more than 30 years.

According to a study by Pew Research Center, in the third quarter of 2021, the country had the eighth-highest annual inflation rate among 46 countries that were examined. The U.S. also had the third-highest increase in inflation, 3.58 percentage points, between the third quarter of 2019 and the same period this year. It trailed only Brazil and Turkey, both of which have less-developed economies that generally struggle with higher inflation rates more than the U.S.

So, number 8 for the year, but, number 3 for the quarter. Which means other countries, excluding Brazil and Turkey, are tending to do better. Let’s go to that link by Pew

Understanding why the rate of inflation has risen so quickly could help clarify how long the surge might last – and what, if anything, policymakers should do about it. The recent acceleration in the rate of inflation appears to be fundamentally different from other inflationary periods that were more closely tied to the regular business cycle. Explanations for the current phenomenon proffered to date include continuing disruptions in global supply chains amid the coronavirus pandemic; turmoil in the labor markets; the fact that today’s prices are being measured against prices during last year’s COVID-19-induced shutdowns; and strong consumer demand after local economies were reopened.

We know what the problems are. What caused them. What’s going on. So, by all means, Brandon, do the exact wrong things to alleviate the issues.

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One Response to “Brandonflation: U.S. Has One Of Highest Rates In The World”

  1. Professor Hale says:

    Inflation isn’t something that just happens, like global temperatures or earthquakes. In every case, inflation is a deliberate choice by politicians so that they can steal the wealth of savers without actually raising taxes. Politicians aren’t as good at predicting the effects of their causes so it looks like unrelated events to them. The Fed and their tinkering with the interest rate has no measurable effect on inflation.

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