One of the most disgraceful aspects of the present inflation and its horrendous damage to the average American is that the Beltway bureaucracy is making six figures and hasn’t begun to feel the pain being felt everywhere else. This is true of most of Congress, too. Anyone who can fly out of Washington and pay as much as 40% more for an airline ticket this year hasn’t really felt the pain.
As the Fed raises interest rates and reduces the money supply, working-class Americans and retirees will keep slashing household budgets to make sure they can have toilet paper and eggs. Meanwhile, the privileged income earners will continue to be able to take pricey vacations, attend privileged functions and buy expensive clothes (though with the minor inconvenience of a greater cost than they would like).
The rioting Chinese citizens, the Iranians (as evidenced by the recent courageous display of their soccer team) and the Russians protesting the war in Ukraine all have something in common with the working-class American: too much privileged, apathetic and vicious government that is not accountable to the people. This must change, and it has to start here.