My heart raced and my palms grew sweaty as a close friend and family member approached me, eager to ask about the truth of inflation. I had warned them countless times before that the impact of Presidents on this issue is often overestimated, but their curiosity could not be contained.
With a deep breath, I revealed the average year-over-year CPI inflation rates for each Presidential term since Eisenhower. The numbers were staggering – Republican terms averaging at 4.1%, only slightly higher than Democratic terms at 3.9%. But there was a time when it was much worse, a dark memory etched into the minds of those who lived through the Ford/Carter years. Those were the days of sky-high prices and gas lines, when every shopping trip felt like a battle against inflation.
The heated debates, tinged with a hint of desperation, now revolve around the topic of inflation. The question on everyone’s mind: is it truly the highest in history? Opinions are divided, some blaming the recent Covid pandemic, others citing economic policies. But as the charts and data vividly illustrate, the truth cannot be denied unless one chooses to succumb to delusion over intelligence and logic.
The numerical data stands proudly, a visual representation of the current state of affairs. Inflation did not reach the record-breaking heights of the past, but it spoke volumes nonetheless. Inflation rates had experienced a startling jump, causing concern and speculation. Many fairly pointed fingers at the impact of Covid recovery efforts and economic policies. However, there is no crisis occurring and it appears that things are now returning to a more stable level, in line with common expectations and forecasts.
Such is life, and truth.
Old Man Pondering 
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