Nobody is buying the Biden Democrats’ excuse for inflation

Published February 22, 2022 12:00am ET



In order to hide the shortcomings of socialism and of their own economic management, Soviet authorities routinely blamed “saboteurs” or “wreckers” for their nation’s economic problems. In the Stalin era, such bogus sabotage accusations earned lengthy sentences in the GULAG prison system.

Inflation was one of the constant problems for which scapegoats had to be found, as Soviet authorities were constantly causing inflation. They didn’t exactly have a sophisticated understanding of economics. And so, in order to keep workers placated, they kept raising their pay (which the government controlled), even though there was pretty much nothing available to purchase with the extra money. Hence, inflation.

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