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A Basic Economic Reality

A basic cause of inflation is an economic reality Which has little to do with prevailing political ideology, Rather it is rooted in elementary consumerism And stopping it depends on a proper methodology. Demand for a specific commodity goes out of control When there is far more demand than availability. Simply, a shortage of supplies to meet the demands The higher price that short commodity commands. A shortage of goods caused by supply chain woes Made huge numbers of commodities scarcer, you see And those vendors who could raised their prices, So many things cost more than they had previously. Fears oil-producing countries might not meet needs Lead to major oil companies raising prices per gallon. Indeed, some gouging no doubt elevates our concern Some commodities also purposely held up, we learn. Consider, some major corps are making record profits And there seems no lack of the commodity they sell Particularly pharmaceuticals have an increasing market They can regulate the number of pills produced, do tell. So inflationary prices, in this specific case, are artificial Check out the earnings/loss statements of drug moguls. You will do a slow burn discovering this manipulation Producers won’t admit their fault for spiraling inflation. Inflationary trend is designed to destroy the middle class The rich can afford to pay more for what they indulge While the middle class struggles to afford the necessities, But don’t expect astute politicians this fact to divulge. They will raise the federal interest rates promising relief But commonsense tells us that, too, hurts the little man. Unfortunately, we have also farmed out manufacturing So, we have lost commodity control to stupid posturing.
Written May 14, 2022 [along with a degree in American history, I have studied graduate level economics. There is much more to inflation, but we must not overlook basic consumerism.]

Copyright © | Year Posted 2022

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Date: 5/15/2022 8:25:00 PM
Agreed, 100%! Too much manipulation and control of prized commodities, not to mention loss of control over manufacturing... Well-penned, Milt... Wonder how many these days still have enough attention span left to read every stanza though. (--Why Hilary, Donald and Joe never made any sense!) :) gw
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Date: 5/16/2022 7:52:00 AM
Thank you, gw. I can't answer your question, but I am hoping someone might be enlightened or educated by my words.
Date: 5/15/2022 5:00:00 PM
I find it weird that the rich do not WANT to pay their share of taxes.
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Gershon Wolf
Date: 5/15/2022 8:28:00 PM
Uh, hello, Caren! I myself try not to pay one stinking cent more than I owe Big Brother and his non-stop spending machine, and I'm no rich man, I assure you! Why should Bezos et al. be any different? ... And btw, those rich guys pay egadszooks worth of taxes, even if their companies don't. Check it out, please. :) gw
Date: 5/15/2022 7:54:00 PM
With extreme riches comes extreme greed, IMHO.
Date: 5/15/2022 6:03:00 AM
Milt, you perfectly outlined what's happened and yes, it was the pandemic not the president! Perfect !!! I hate politics!!!! BUT I love Sunday and Poetry!! Happy Sunday my friend!!!
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Date: 5/15/2022 7:50:00 AM
Hi Mike. Thanks for your affirmative and insightful comment on my poem. I don't know what prompted me to write this because it is so out of my usual fare. I just realized a lot of misunderstanding about this inflation thing and began writing. Mike, I hope you have a marvelous Sunday and a wonderful forthcoming week.
Date: 5/15/2022 4:49:00 AM
and as you say Milton the "middle class(once referred to as the "working class") becomes a fatality of this reality.
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Date: 5/15/2022 7:52:00 AM
Indeed, John. What amazes me is, that through lack of understanding, the "working class" is doing little but bitching about inflation. They should be voting out those who are inflaming it...and, backing off on purchasing price-inflated commodities. As demand goes down, so do prices, i.e. televisions since 1950s!