My purpose here is not to give the Democrats a pass, but to point out that electing Republicans to fight inflation will accomplish nothing. Inflation isn’t the creation of the Democratic or Republican parties themselves, but instead the world capitalist system. Inflation is 10% in both England & Germany, 7% in Canada, etc. Causes include the pandemic, supply chain, and the Ukraine war — but even these factors only cause inflation because capitalism is a completely distorted and inhuman system that’s focused first & foremost on private profit.
While we all complain about prices at the pump, the combined profits of the largest energy companies in the first quarter of this year are close to $100 billion. Glencore, the world’s largest coal shipper, generated record profits in the first half of 2022 and plans to pay out an additional $4.5 billion in dividends and buybacks to shareholders.
Notice these billions are going to the owners of oil & coal, not the miners, petroleum workers, and others who take it out of ground and process it — at great personal risk — so we can use it. These billions are actually coming FROM these workers’ pockets, and from all our pockets.