The Bureau of Labor Statistics reported that the rate of inflation rose to 8.6% in May, the latest high in a period of rapid growth in prices following the COVID-19 recession in March 2020. Indeed, inflation is now higher than it has been in the past 40 years.
  • @supersolid_snake
    2•2 years ago

    And up to 60% of the price of oil is due to speculation. Something like 13x of the actual existing oil production is being traded in the commodities market. Russia is a red herring, they need to stop commodity trading of basic needs.

      • @supersolid_snake
        1•2 years ago

        True, it’s all having an impact. The commodities market is something that can be changed very quickly however, if there is a willingness. There isn’t because it’s hurting the poor.

          • @supersolid_snake
            1•2 years ago

            I agree, Biden is to blame regardless… He needs to stop calling it the Putin tax and actually place some of the blame on commodities traders. I think we agree on this being biden’s fault.