Policymakers are running for the exits when it comes to answering for the state of the economy. Excuses range from Russian President Vladimir Putin to COVID-19. Those excuses have some merit. But whatever peripheral justification is pulled out of the hat, the fact remains that economic duress was inevitable given the way politicians on both sides of the aisle have used and abused the economy over the last two decades.
We, and just about every other financial expert, have been writing about the inevitability of inflation and economic duress for years. So how did our leaders not see the financial damage being done by the continuous injection of fiscal and monetary poison into our economic veins? It seems it simply was not politically convenient to be concerned about the economy as it was being stuffed with more pork.
We as a country must take responsibility for what is happening. We are doing this to ourselves by electing people who are markedly unqualified for leadership positions.
Leadership is not about being able to deliver people good news – fabricated or not. It is about being able to explain the inevitable bad news and providing tangible solutions that make sense. When was the last time you saw that in Washington or in most state capitols? Who was the last American leader who reminded us that there is no free lunch? Does anyone represent the concerned middle anymore?
We have heard all the excuses for not seeing inflation and economic shortages coming. Here’s the evidence. You be the judge.