Inflation is Caused by Covid Suppy Chain Downsizing and layoffs

Fishers IN

Description

This is really a simple notion. During Covid corporations wanted to continue to make record Profts and realized that covid would hurt business because folks started staying home and reduced spending. Demand went down drastically, and massive layoffs occurred, and we saw 13% unemployment under Donald Trump. Then once Biden was elected, he facilitated the recovery of Covid by getting the vaccine distributed and the demand for goods/services was back up near pre-covid level's (pretty close). Yet all those massive layoffs and cutting in spending by corporations led to a supply chain problem - The supply could not keep up with the demand. This is how we got high inflation. When there is scarcity of a good/service, and it is in high demand and cannot be produced, inflation occurs. This is why we cannot get more PS5's in the store. Because Taiwan cannot produce them fast enough. So, GOP members towing the "It is Biden's fault" appear to have not taken civics or any business course that would give them a basic understanding of economics. These GOP talking points are simply a lie, and the GOP knows better, but John Doe voter may not understand. We are facing a global supply chain problem and not one unique to the United States. In fact, European nations are seeing 9% and likely to go up more because of the War. If the GOP notion that Biden was at fault was true, then why is the rest of the world facing the same inflation problem? Ask yourself that Jon Doe voter? I could list many papers to prove this point, but this one should do. We all lived the covid era and know what happened. Our economy tanked and needed to recover. This will take time. As long as inflation is trending in the right direction that is all we can ask of our leaders' policy right now. And inflation has slowly been going down, lately. https://www.nytimes.com/2022/06/10/business/how-inflation-became-a-global-problem.html