Clearly, economists don't understand inflation. Inflation is caused by monetary expansion. Monetary policy is the tightest in history.
A supply side energy crisis is not inflation. 20 million Americans can't afford their utility bills:t.co/YE3wEBjst6
Or food: pic.twitter.com/r6N2eITcXZ
— Mac10 (@SuburbanDrone) September 8, 2022
via NYPOST:
More than 20 million households face a “tsunami of shutoffs” after falling behind on their utility bills as the price for electricity skyrockets because of decades-high inflation, experts predict.
Since the pre-pandemic era, the amount owed to utility companies has doubled for approximately one out of every six homes nationwide, according to Bloomberg News.
State governments had imposed moratoriums on utility shutoffs as tens of millions of Americans lost their jobs at the onset of the coronavirus pandemic.