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Inflation and the Long Search for Responsibility

inflation

Available: Español

[Leer en español]

As inflation hits 8.6% —the highest in 40 years— the search for culprits becomes heavier and opaque. Officially, Biden’s administration blames price spikes exclusively on Putin’s unprovoked invasion of Ukraine, but as usual, things are more complicated.

While the Russo-Ukrainian conflict has undeniably sparked inflation all around the globe —this being one of the many reasons to strongly oppose Russia’s gratuitous aggression— there are other forces playing crucial parts in price hikes. Support packages aimed at easing the pandemic’s unforgivable toll and extraordinary money printing are, for instance, two factors that seem to escape the administration’s Pontius Pilate narrative.

Chances are that if you’re reading this from your Tribeca apartment, you’ve barely noticed significant changes in prices. Inflation affects the most fragile members of our society the hardest (and the fastest), which is exactly why Biden’s “Putin’s tax” strategy is so painful to witness —wasn’t he supposed to be one of the “good guys?”

Politicians’ de facto inability to take responsibility is tearing us apart, not only financially but institutionally. And as the weakest suffer, this is red flag enough.

Pris Guinovart is a writer, editor and teacher. In 2014, she published her fiction book «The head of God» (Rumbo, Montevideo). She speaks six languages. Columnist since the age of 19, she has written for media in Latin America and the United States // Pris Guinovart es escritora, editora y docente. En 2014, publicó su libro de ficciones «La cabeza de Dios» (Rumbo, Montevideo). Habla seis idiomas. Columnista desde los 19 años, ha escrito para medios de America Latina y Estados Unidos

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