Sunday, August 14, 2022

A response to the ills facing the nation

Inflation, an influx of illegals causing a burgeoning border crisis, high gas/diesel prices, rising mortgage rates, food shortages, and a host of other issues are causing citizens pain.

Not since Jimmy Carter was president have been faced with these crushing price hikes and shortages.

So what’s causing this increase in prices and shortages?

Some say it’s the policy of the current administration. Others say it’s the fault of the Trump years and the pandemic.

In May 2022 inflation was at 8.5 percent. In 2018 it was 2.49 percent and in 2019 it was a meager 1.76 percent.

Illegal immigration in 2019 was at 977,509. In 2021 U.S. Customers & Border Protection stopped 1,956,519 illegals at the border.

The price of one gallon of unleaded regular gasoline was $2.06 in Minnesota prior to the November presidential election. Diesel was $3.056 per gallon.

Today the average price for unleaded regular gas is $5.01 and the average diesel price is $5.57.

It should be noted that all increases in shipping costs are passed along to consumers, pressuring higher rates of inflation.

With the Federal Reserve raising rates by .75 the push on borrowing for homes, cars and other larger purchases is moving higher. As of June 16, 30-year mortgages varied from a low of 5 percent to a high of 6.25 percent.

In November 2019 30-year mortgage rates were as low as 2.6 percent and were as high as 4.54 percent.

Food shortages are predicted for the remainder of 2022, according to Reuters. “Food shortages work in two ways. One is you have the tragedy of people actually starving to death,” said Peter Sands, executive director of the Global Fund to fight AIDS, Tuberculosis and Malaria. “Second is you have the fact that often much larger numbers of people are poorly nourished and that makes them more vulnerable to existing diseases.”

Yes, wages have increased under this administration, but are they keeping up with inflation? “…A survey of U.S. companies found employers now are budgeting an overall average salary increase of 3.4 percent in 2022, which is less that half the current rate of inflation (8.7 percent),” according to an article published in Forbes.

If an individual has a 401k one might hope things will change. After reaching a high of 36,952 on Jan. 6, 2022, the Dow has been in a steady decline. As of June 21,2022 the Dow Jones Average was in free fall and it 29,888.78 last week and continues to eat away at investor’s bottom line.

What does this mean to the average Dodge County resident?

It means we’re staring down the double barrel of inflation and recession unless current policies are reversed.

Going with hat-in-hand to the Iranians, Saudis or the Venezuelans are not the answer long term.

The answer is to unleash the billions of fossil fuel BTUs we know we can create here in the U.S.A. Back off of creating more stifling regulations that handcuff businesses here at home, and curtail the surge at the border, which costs taxpayers billions of dollars in welfare to support this current wave of illegals into our country.

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Dodge County Independent

Dodge County Independent
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Kasson, MN 55944

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