I have read the recent letters to the editor about Biden and I must say that some people need not only a civics class, but also to understand the financial workings of the USA.
First, Biden doesn’t control Wall Street speculators on the price of oil. As oil prices rise, so does gasoline. The pandemic glut is gone. Blaming Biden is a feel good thing to some but not accurate. Prices are rising because the Federal Reserve wants at least 2 percent inflation and also the value of the U.S. dollar has declined.
Everything in commodities are bought and sold in U.S. dollars so as the dollar loses value the price of oil and lumber goes up. I understand some people like to blame Democrats but some people really need to get educated in how the Federal Reserve and Wall Street work.
It’s like here in Michigan, governors don’t have the checkbook to fix the roads. The state legislature in Lansing does, they appropriate the money. and Republicans have totally controlled Michigan’s legislature for over a decade.
People really need a civics lesson.
—Philip Sardo,
Almont
