Recent polls have indicated that the national economy is on the minds of many people, and most of those that feel unfavorably about it blame President Joe Biden. If there is a “blame” to be assigned, I respectfully suggest that “we the people” bear the great majority of that blame. Why? It’s Economics 101: supply and demand.
We all know that there are supply chain issues arising from the pandemic causing a back-up of goods at our receiving ports. The current COVID-19 crackdown in China has substantially lessened its production of the goods the United States imports. The war in Ukraine and the western world’s freeze on purchasing Russian oil and natural gas has decreased the amount of crude oil available. This is the supply side of the problem.
As the world, in general, emerges from the…
