Charles Bastille
1 min readNov 7, 2021

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I recommend you read Nobel Prize economist Paul Krugman on the TYPE of inflation we are experiencing.

It is endemic and circumstantial, based on a particular set of circumstances such as the pandemic and the current troubles in the supply chain. Used car prices, for example, are higher because new car chips are scarce.

With the new infrastructure package, ports will be able to invest more heavily in things like carrier chassis, which are in critically short supply. That shortage alone is helping block ports, but so is the simple fact that low wages for independent truckers are resulting in their refusing to wait around in ports for nine hours a day while waiting to start a delivery.

If Manchin hadn't blocked the social spending bill so effectively, the infrastructure bill would have passed months ago. It was unncecessary and callous of him to do so.

Manchin is also wrong because he won't allow us to tax the wealthy to pay for things. He simply won't let us do it. One guy is stopping this. Have you ever looked at the tax rates of the 1970s for higher earners? We paid for stuff back then. Went to the moon instead of relying on rich guys like Elon Musk to build rockets. There were programs for the poor and elderly, most of which have been ravaged by Reaganism.

The social safety spending bill that Manchin is blocking would allow for trickle UP economics, which, as opposed to trickle down economics, actually has statistics to back up as a real thing.

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Charles Bastille
Charles Bastille

Written by Charles Bastille

Author of MagicLand & Psalm of Vampires. Join me on my Substack at https://www.ruminato.com/. All stories © 2020-24 by Charles Bastille

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