inflation

The tariffs are causing far more damage than good.

This is the thirteenth month in a row that earnings have slipped behind price inflation, with inflation remaining above 40-year highs. That is, for more than a year, ordinary people have been getting poorer.

During a recent speech, Vice President Joe Biden blamed inflation on firms raising prices and urged them that they needed to decrease their business costs while increasing wages. The math is up to you.

The recent depreciation of the pound is the latest in a long line of traumatic incidents for successive UK governments. British politicians were repeatedly confronted with the terrible threat of currency depreciation during the postwar era of 'fixed but changeable' exchange rates.

The existing monetary and fiscal policies are self-destructive.

The Federal Reserve has declared that it will begin reducing its balance sheet and boosting interest rates. However, the Fed's actions announced on Wednesday are extremely cautious. The Federal Reserve is significantly behind the curve.

Last year, Joe Biden and his administration claimed that inflation was 'transitory.' This year, Vladimir Putin gets the blame. Next year, Biden will blame American businesses. And the beat goes on.

By highlighting erroneous inflation figures, central banks will not be able to determine the best policies.

Marx and Engels are not only anti-capitalist. They observe that by limiting everything to monetary exchange, the reality of exploitation became more visible.

It's worth remembering the real-world facts as inflation fears reappear.