The inflation apocalypse has been canceled. (But not culturally.)

August 07, 2022

The NY Times' Paul Krugman takes note. 

"Food prices are also coming down. Here's the futures price for wheat" [Nasdaq]:

"And business surveys are suggesting a broader decline in inflation."

Krugman also notes that "Republican efforts to regain control of Congress have rested almost entirely on blaming Joe Biden for inflation — and gas prices in particular. Did Donald Trump ... attempt to overturn a legitimate election? Gas is over $5 a gallon! Are Republican judges and state legislators taking away rights women have had for decades? Gas is $5 a gallon!"

Counting on voter ignorance, inattention and their unfortunate propensity to believe today whatever they believed yesterday, no matter the facts a changin', Republicans will keep their inflation doomsday machine cranking at full speed well beyond the point at which rising prices began falling. Such as Oz's tweet issued just as mounting evidence of falling prices was being published.  

You just can't keep good demagogues down.