For some voters the only issue this election is getting a black female into the Senate. For them, the winning choice is Angela Alsobrooks. After all, if your voting patterns are only skin deep, your capacity for critical thinking is probably no better. If, however, you care about people of color, the underserved, the marginalized, and the struggling, you might want to listen closely to what Ms. Alsobrooks says about the issues.
In the much anticipated debate between Ms. Alsobrooks and Larry Hogan, the candidates were asked a three-part question about inflation. Below are each candidate’s responses (my summary).
| Question | Hogan | Alsobrooks |
| Who gets the blame for the recent inflation? | Republicans and Democrats can both take blame, because both ran up the debt. | Huge corporations reporting record profits. |
| Who gets the credit for reducing it? | Not sure the inflation has come down, because the average person doesn’t feel that it has.
Cutting tolls, cutting fees. |
(No direct response.) |
| How do we avoid inflation in the future? | (No direct response.) | Taxing corporations so they pay their fare share. |
Ms. Alsobrooks isn’t understanding inflation, so we need to go back to the basics: what is inflation and how is it measured.
Calvin and Juanita are engaged in a high-stakes game of Monopoly. Calvin has three of the railroads and wants to buy the fourth one directly from Juanita. His offer of $2,000 isn’t good enough; Juanita wants $3,000.
The banker announces that every player is entitled to a one-time disbursement of $5,000. Calvin, now flush with cash, says to Juanita he will meet her price of $3,000. Juanita, also flush with cash, refuses and now demands $5,000. There is no change in demand, no change in supply; the price went up solely because there is more money circulating in the Monopoly economy.
In the United States, the Federal Reserve Bank is the Monopoly banker. It determines how much money floats around and provides monthly reports the public can view (source).
Starting in George W. Bush’s first term in 2001, the money supply has been increasing way beyond any reasonable level. From then until now, we’ve had Republican and Democratic administrations and congressional leadership. Mr. Hogan is correct. Both parties, all Americans, are to blame for the excess money supply that causes inflation. (The dufus charging his neighbors $15/gallon of gas as they try to escape a hurricane is not causing inflation, because the prices return to normal when the emergency is over.)
The government measures inflation by tracking the prices for categories of basic goods that include food, housing, apparel, medical care, and tuition. Housing, tuition, medical care, and tuition are more influenced by government policy than by “the corporations.” Ms. Alsobrooks can tax corporations as much as she wants, but as long as there are government restrictions on the free trade of basic goods, there can be no relief from inflation. Furthermore, the methodology the Bureau of Labor Statistics uses to measure inflation is a complete mess, and doesn’t necessarily reflect the prices paid by a struggling mother at the grocery store.
Inflation is a big topic, and this post certainly does not begin to address this painful issue caused solely by all of us. Regardless, if you are struggling with price increases, or if you are concerned about the underserved who are struggling with price increases, you’re better off voting for someone who understands inflation, and that would be Governor Hogan.
