re: We should raise statues of Joe Manchin

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Joe Manchin didn’t completely torpedo the $500 billion in Green New Deal climate change spending, but he did stall it for a month saying he would not support the climate change spending until he sees July’s inflation numbers in August, which should be a warning.

If you think carefully about it, it’s a classic Manchin head-fake. The July and August inflation numbers, to be released in August and September respectively, are almost guaranteed to be lower than June.

July/Aug are the two months we are in right now where inflation is hitting a plateau. Gasoline prices are dropping due to a drop in demand. This is the period before prices start rising again in September and October when the energy farming costs start to roll out with the next harvest.

Senator Manchin isn’t stupid; in fact, he is quite Machiavellian, he knows this… thus, his position.

Manchin can give the illusion of prudence, but he knows the July inflation rate will show a decrease for two reasons.

First, in the month-to-month comparison, July will not carry the same scale of gasoline and energy increases as June. Second, in the year-over-year comparison, July ’22 will be comparing to July 2021 when prices already started skyrocketing. Bottom line, July inflation will give the illusion of dropping, which gives Manchin a shield to support the spending…. and he will.

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