The Democrats will suffer historic losses in the November midterms.
This disaster for their party will come about not just because of the Afghanistan debacle, an appeased Vladimir Putin’s invasion of Ukraine, the destruction of the southern border, the supply chain mess, or their support for critical race theory demagoguery.
The culprit for the political wipeout will be out-of-control inflation—and for several reasons.
First, the Biden Administration is in such denial of inflation that it sounds to Americans simply callous and indifferent to the misery it has unleashed.
Biden officials have scoffed at price spikes as “transitory.” Or they have preposterously claimed spiraling costs are a concern only to the elite. They blame the Ukraine crisis. Or they fault the out-of-office bogeyman, Donald Trump.
The administration assures us that consumer prices are only rising at an annualized rate of 7.5 percent—as if the steepest increase in 40 years actually is not all that bad.
Yet the middle class knows that inflation is far worse when it comes to the stuff of life: buying a house, car, gas, meat, or lumber.
Second, inflation is an equal opportunity destroyer of dreams. It undermines rich and poor, Democrats and Republicans, conservatives and liberals. It unites all tribes, all ideologies, all politics against those who are perceived to have birthed the monstrous octopus that squeezes everything and everyone it touches.
The conservative passbook holder sees his meager life savings eaten away. The liberal teacher’s car payments stretch from six to 10 years.
The prospective Republican home buyer sees his hard-earned potential down payment eaten away each month. The Democratic carpenter feels his new higher wages buy even less.
Third, inflation is ubiquitous, inescapable, omnipotent—and humiliating. It destroys personal dignity. And its toxicity is insidious, sort of like seeping, odorless, colorless, but nevertheless lethal carbon monoxide.
Unlike now-unpopular critical race theory, it cannot be avoided for a day. You cannot tune it out like one does the mess in Afghanistan or the now nonexistent southern border. Inflation attacks everyone in 24/7, 360-degree fashion.
It belittles you at the gas station. It downsizes you at the food market. It humiliates you in the obscene real estate market. It makes you look stupid when you are paying for a new car. It ridicules you when you buy lumber. Suddenly you apologize that you really cannot afford your child’s braces.
Fourth, inflation undermines a civil and ordered society. It unleashes a selfish “every man for himself” mentality, the Hobbesian cruelty of a “war of all against all.”
Inflation is the economic and emotional equivalent of smash-and-grab or carjacking. It is a brazen robber in broad daylight that so infuriates Americans by its boldness. It convinces them their very civilization is dying.