On Inflation and the Economy

Here are links to some news stories from today about inflation. After
that I give the link to an article from WashingtonMonthly which is more
extensive and includes important history.

https://www.reuters.com/business/energy/which-us-refineries-have-shut-since-global-pandemic-why-2022-06-17/

https://www.reuters.com/business/energy/venezuelan-oil-cargo-eni-departing-supertanker-load-next-document-sources-2022-06-17/

https://www.bloomberg.com/news/articles/2022-06-15/biden-willing-to-use-emergency-war-time-law-to-boost-gasoline

https://www.bloomberg.com/news/articles/2022-06-19/massive-oil-refining-capacity-idle-in-china-even-as-prices-soar

https://www.bloomberg.com/news/articles/2022-06-09/yellen-rejects-idea-corporate-greed-is-to-blame-for-inflation


https://washingtonmonthly.com/2022/06/20/its-the-monopoly-stupid/


If you read these you will see that the Bloomberg and Reuters stories
explain what is happening NOW. That's the nature of "news". it's what is
"new". But, to understand our economic situation better you need some
historical perspective and it gives a very different impression. That's
where the WashingtonMonthly article finishes the puzzle.

That said, the WashingtonMonthly article is talking about economics and
not Russian influences on the Republican party and so many of the things
we see tied to Donald Trump. Still, it's a very good article with its
focus on the issue.


I have no idea why Janet Yellen would say corporate greed isn't the
issue. It is very much at the heart of the issue.