In the US inflation is dropping rapidly and Joe Biden keeps creating more jobs!
You argument is a fallacy based on outdated thinking.
You can have a buoyant economy and low inflation if the right policies are in place and greedy Companies price gouging is controlled!
We only have to look at the how greedy landlords are price gouging desperate tenants with rental increases way beyond what should be deemed to be acceptable!
We are paying $2.30/l for fuel in Brisbane currently when oil is about US$80 a barrel, that is blatant price gouging yet again by greedy oil Companies.
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