Why inflation may persist

[sealybobo]

Inflation, both in the U.S. and elsewhere, is likely to persist for several reasons:

Climate change

Fires from increased drought and flooding from the increase in atmospheric rivers and rising sea levels will continue to drive up the cost of insurance to cover property damage. Climate chaos also damages or compromises infrastructure, such as roads and waterways, which will cause delays in the product supply chain, thus driving up costs.

Wars

Both the growth in authoritarian, nationalist regimes and persistent terrorist groups has increased conflict levels that threaten sea lanes, thus requiring cargo ships to take alternative, more costly routes, driving up the cost of products.

Entitlement

In the U.S., in particular, there is little sense of thrift among a large segment of the population; they will pay inflated prices for products whether they truly need them or not. The entitlement category also includes the criminals who believe they have a right to steal to make up for past grievances, a belief that drives up the cost of products.

Aging population

As the population ages, the costs associated with their chronic conditions and long-term care will also increase and their voting power will deter politicians from suggesting cutbacks.

Feel free to add your own opinions on what contributes to inflation.

Trump's plan is really going to drive up the cost of things

Trump wants another Billionaire Tax Break, while Joe Biden will cut taxes for tens of millions of hardworking Americans. - Joe Biden for President: Official Campaign Website

This election will be a choice between two fundamentally different visions for the economy and our country: Joe Biden sees the world from a kitchen table in Scranton, Pennsylvania, while Donald Trump sees it from his country club in Mar-a-Lago. Joe Biden is fighting to lower costs and cut taxes...

joebiden.com