This is a supply shock, not inflation. Money printing lifts every price at once. A war cuts oil output and moves one. Do not confuse the two.

Americans have spent an extra $107 billion on fuel since the war hit oil supply. Gas is $4.33, diesel a record $6.27.

This is a supply shock, not inflation. Money printing lifts every price at once. A war cuts oil output and moves one. Do not confuse the two.

The saving rate just dropped to 3%, near a recession low. The consumer is already paying the tab.

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