Just two months into a reckless war, and inflation is up to 3.8% officially, according to a the recent Consumer Price Index (CPI) report, released last Tuesday. That’s nearly 1% higher than the official inflation rate at the end of the Biden term, and just a little more than 1% less than the mean average during the entirety of the Biden administration, a primary motivator for voter behavior in the 2024 elections.
Even though it may seem that virtually all of the recent increase is due to the rising energy costs produced by the Iran War, we must not forget that, in the background, prices have been impacted by other factors. Factors such as the effects of tariffs on prices. Also, the continuing devaluation of the dollar due to Americas national debt, and the effects of compounding interests on the value of the dollar.
One of the most appealing components of Trumps platform (appealing for his base and fringe, that is) has been economic. Both the macroeconomic promise, the appeal for overall US economic growth, but also at the micro level, for the benefit of every working class and middle class household. But when people see that they are being taxed at least the same, if not more this year than previously, that they are paying 30% more at the pump and 15% more at the grocery store than they were at the beginning of the year, and in a worse case scenario, to see their lifetime savings consumed by a recessive stock market–well, really quickly alliances can become fractured. The average working citizen may begin to become jaded and critical, if they havent already. This is the reality of the bottom line for families and individuals. And it is being heavily impacted by what appears to have been a reckless and unnecessary decision to initiate war as a first measure, rather than a last resort.
Time will tell what will happen next, militarily, in this war, and what the consequences will be, including the economic. Of course, we hope and ask God for peace. Though, if we are judging by the official rhetoric, projected through FOX News for example, then it is quite possible that we could wake up tomorrow or some day this week to the headlines of resumed aggressions. If so, then the economic consequences are sure to be severe.
I am pro Kurd, pro-Peshmerga, and in full support of a sovereign Kurdistan. If the US was the same, then there would have been a Kurdish state since 1994, since 2003. The fact we are hearing this push today, a week after war has been waged, demonstrates insincerity. Washington and the Zionists only consider the Kurds as pawns. And does anybody doubt that they would change their tune, at some point, if an independent Kurdistan pursued self-interest outside of the purview of what is desirable and acceptable to its imperial benefactors?
Think!
Truth2Power!