I am not ready to offer a coherent response to yesterday’s election. I offer only one thought that has bothered me throughout the Harris campaign.
Harris never offered a justification for why inflation was not the fault of the Biden administration. Although the administration’s efforts to pump up the economy had some inflationary effect—it likely avoided economic disaster—the biggest problem was supply chain disruptions caused by COVID, arguably inherited from the Trump administration. Also, she never explained what inflation really is and that it was reduced to a reasonable level under Biden. Ignorant people believe inflation is high prices, rather than increasingly higher prices. Prices will not come down unless we have a recession, which now is increasingly likely.
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