Remember ‘It’s the economy, stupid’? Well, guess what? It still is
As Published in the Miami Herald
Political enthusiasts will recall the 1992 Clinton presidential campaign’s watchword: “It’s the economy, stupid!”
Households across the country are concerned with inflation. Consumer prices are at a four-decade high, led by gasoline, which has doubled in price since January 2021. Investment portfolios are slashed in half. Meat, poultry, fish, and egg prices are up by more than 14% year over year. Producer price indexes indicate that we can expect further trouble ahead.
Rising costs hurt in and of themselves. In a recent podcast with me, Steve Forbes — economic guru and former Republican primary candidate — zeroed in on an even greater issue...