Monday, March 18, AD 2024 10:51pm

Groot Hates Inflation

News that I missed, courtesy of The Babylon Bee:

TERRA—The bounty on notorious criminal Groot’s head has skyrocketed following a sharp increase in lumber prices across the galaxy, sources confirmed Monday.

The member of the outlaw group known as the “Guardians of the Galaxy” — wanted for violent assaults, escaping prison, more nefarious mercenary acts — previously had a bounty issued in the amount of $100,000 in Terran dollars, but that number has shot way up, with bounty hunters now seeking him out for the sum of $10,000,000.

“It’s just supply and demand,” said one member of a Ravager clan. “Builders are seeking lumber right now, which is in short supply. And Groot is a highly sought-after Flora colossus, desirable for its application in building homes and businesses. While he was previously wanted for his criminal acts, he’s now wanted more for his potential as a building material.”

Groot strongly condemned the increased bounty on his head, saying, “I am Groot. I am Groot? I am Groot.” When pressed, he added, “I am Groot,” leaving little doubt as to where he stands.

Go here to read the rest.  Many of our younger readers have no personal experience with high inflation.  I was a young adult in the Carter years.  The term stagflation was coined to describe a stagnant economy with high, for this country, inflation  In 1979 and 1980 the inflation rate each year was thirteen percent.  That type of inflation wipes out the value of savings and wages in no time at all, and causes businesses to continually raise prices and employees to continually demand wage increases, just to remain stationary.  It was a nightmarish situation.  Reagan squeezed the inflation from the economy by supporting the tight money policy of Fed Chairman Paul Volker.  The inflation rate in 1981 was 10.32, 1982 6.16 and 1983 3.13.  This was done by throttling economic growth and enduring a sharp recession in 1981-1982, which I remember well, graduating from law school into a bleak economic environment in 1982.  The economy now is giving clear signals, after the Feds have spent trillions on the Black Sniffles last year and will spend more trillions this year, of a return to something like stagflation.  This is the economy that the Puppetmasters’ Administration will likely produce:  slow growth and rising inflation.

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