Here Comes Inflation Acceleration

I’ve been saying that inflation is on its way since April of this year. Well, it’s here, and it’s going to get worse. On Nov. 10, the U.S. Bureau of Labor Statistics released the consumer price index summary, revealing what most American’s already know. Prices are skyrocketing.

According to the BLS report, prices increased 0.9% last month overall versus 0.4% during September. Even worse, the annual increase for inflation the last 12 months was 6.2% — the biggest increase since November 1990. The biggest driver is energy, up at an annual rate of 30%. Food is up 5.3%, driven by a 12% increase over last year for meat, poultry and fish.

Recently, the Democrats’ spin has been that inflation is good because it’s an indication of economic activity (according to Press Secretary Jen Psaki). But it’s hard to argue with a straight face that an increase in fuel prices of 30% is good for Americans. While those in the nation’s urban areas might be able to walk to work and commute on metro transportation, millions of Americans must use their cars.

According to NBC News business reporter Stephanie Ruhle, the “dirty little secret” is that people can afford those higher prices. Maybe she can, but most people I know can’t just spend more.

Unfortunately, it’s going to get worse this winter. The U.S. Energy Information Administration released its predictions for the prices of fuel this winter compared to last. Their guess: natural gas will be 29% higher than last year, and heating oil will be 39% higher.

Let’s back up and revisit what inflation is and what it does. Inflation is the increase in prices for a fixed basket of goods between time periods. It’s a measure of how much more something costs at a certain point in time compared to what it cost at a different time period. So, if the predictions are correct and you paid $200 per month last year for heating oil, you will be paying $278 per month this winter. That money must come from somewhere — since your wages probably won’t be increasing by 39%. You will have to buy less of some other goods or services that you used to buy, or you could save less, or borrow more.

Inflation also occurs when the supply of money in the economy grows faster than economic growth. This has been happening as the government has funded more and more pandemic-related bills and other large spending bills. As the government prints more money, it is chasing the same number of goods and services. This results in higher prices for the same number of goods, which is inflation.

While Democrats and commentators are trying to spin the inflation story, Americans are experiencing the fallout in their real lives.

According to a Morning Consult/politico poll released Wednesday, “three in four Republicans, three in five independents and nearly half of Democrats say they’re ‘very concerned’ about rising prices.” Additionally, “about three out of five voters hold the Biden administration’s policies responsible for inflation, including roughly half of Democrats.”

While the Democrats continue to spin the message, inflation is real to families as they go to the grocery store to buy food for their families and go to the gas station to put gas in their car. They know it costs more. Today, I received a letter from President Joe Biden telling me that I had received a direct deposit because of the recent passage of the American Rescue Plan. His message was that he’s here to help. What he didn’t mention was who was footing the bill. The truth is it’s just funny money. There is no government spending, there is government taxation, spending of taxpayer’s money by the government, borrowing by the government to spend more money than was taken in, combined with printing money to pay government spending, which leads to inflation. All this means is that the federal government is spending more than it gets from taxpayers, borrows, and prints to cover the difference, all the while driving up inflation. Who pays for all this? The American people do.

What Biden should have written is “get ready, inflation is just beginning, and this little bit of taxpayerfunded spending (funded through taxes, debt or inflation) we are sending you won’t even cover your heating bill this winter — so wrap up!”

Ex-deputy municipal clerk faces embezzlement charge

JACKSON — A former deputy municipal clerk in a Mississippi town was arrested Thursday for allegedly embezzling cash from residents paying their water bills.

Juanyana Holloway, 23, who worked for the Town of Sumrall, was arrested after being indicted for fraud, alteration of records and embezzlement by a local grand jury. Special agents with state Auditor Shad White’s office also handed Holloway a $28,686 demand letter. The amount includes interest and investigative expenses, White said in a news release.

Holloway is accused of embezzling cash as Sumrall residents paid their water bills. To conceal the scheme, Holloway allegedly did not include cash collections on daily bank deposit slips. From summer 2018 to summer 2020, Holloway purportedly took over $13,000 from the town, White said.

“As the native of a small town in the Pine Belt myself, my team and I will never turn a blind eye to what is happening with taxpayer money in our community,” White said. “We will hold the line and enforce the law wherever we find theft of public funds.”

Holloway surrendered to authorities in Lamar County last week. She was released on $25,000 bail. It was unknown if she has an attorney who could speak on her behalf. If convicted on all counts, Holloway faces up to 25 years in prison and $15,000 in fines, White’s office said.

SNAP fraud investigation leads to arrest in Mississippi

JACKSON — A Mississippi woman faces charges for fraudulently receiving food benefits, state officials said.

The 29-year-old woman from Foxworth, Mississippi,

was arrested after investigators found she received an over-issuance of Supplemental Nutrition Assistance Program benefits in the amount of $26,161 because she failed to report income and household composition accurately, the Mississippi Department of Human Services said in a news release Wednesday.

A grand jury indicted the woman on Nov. 9 on a state charge of welfare fraud and she turned herself into authorities in Marion County on Monday, the department said. She

“This investigation and ultimate prosecution demonstrates the controls we have in place to identify, investigate, and eliminate fraud in our programs,” MDHS Executive Director Robert G. Anderson said. “This is also a great example of cooperation between our county office, investigations team, and local law enforcement.”

Kangaroo decides it’s time to bounce, then

hops around town

MADISON — Rocky the kangaroo has been returned to his Mississippi home after a romp around Madison.

The 2-year-old — who assists children during therapy sessions — made his escape Tuesday afternoon, WLBT-TV reported.

His owner, child psychologist Alyssa Killebrew, says a neighborhood child wanted to visit Rocky in his backyard cage but forgot to secure the enclosure.

Killebrew, who is 7 months pregnant, said she and her nanny hopped into action and took off to search for the kangaroo.

Killebrew eventually spotted Rocky along Interstate 55 in Madison, where cars had stopped and motorists were taking pictures and videos,

The animal was taken back home, and the plan was for Killebrew’s husband to take Rocky to the couple’s farm in Flora, the TV station reported.