2022 Blog
The Gray Area (TGA) Blog is a display of TGA blog posts on a variety of subjects during the year.

Creating a political narrative

from The Gray Area:
10/24/22; updated 10/25/22:

There was an interesting debate about Nancy Pelosi's appearance on 'Face The Nation" Sunday and her comments regarding inflation. Below is Ted Cruz reaction and below that one from an apparent supporter of Ms. Pelosi.

Now, this may all just sound like normal political banter among opposition supporters. You might agree that 'cost of living' makes 'inflation' easier to understand. But, it doesn't. This effort is really an example of something much more important to understand. Inflation, as Ms. Pelosi said in this interview, is a financial phenomenon. But, when she downplays it and then goes on the say it should be considered nothing more than 'cost of living', she is attempting to create a new political narrative. One that can be spun to the advantage of her Democrat Party. She follows Pres. Biden and Bernie Sanders in misdirection and blame. What do I mean? Well, 'inflation' is a serious, financial phenomenon. One that comes along as a result of specific market conditions. It is not cyclical. 'Cost of living' is something that is constant and always of importance to the public. To conflate the serious and destructive impacts of inflation with the constant issue of cost of living is incorrect and dangerous. Does 'inflation' impact 'cost of living'? Absolutely and destructively. Is 'cost of living' a consideration at any point in time? Of course, it is. 'Inflation' at a acceptable level, say 2% per the Federal Reserve, is what we would consider normal 'cost of living' that growth n the economy can handle. At this level, it is not destructive and damaging 'inflation' at the 8% levels which we are experiencing now. This is serious and dangerous. The 'inflation' issue, coming as it has under her and President Biden's watch, is very damaging to her party. Especially in an election year. It is incumbent on the Democrats to minimize that issue to help their candidates. Unfortunately for us, minimizing such an important and destructive issue doesn't solve it. This is especially deceitful given Sen Clyburn (D-SC) last week on MSNBC said the administration knew the spending they were doing the past two years would cause inflation, but did it anyway! To ignore 'inflation' is at a minimum foolish and at a maximum irresponsible. Plus, by adding this supposedly comparative concept of 'inflation = cost of living', Ms. Pelosi has now created a new political narrative, one that her supporters and the media will use to deflate the serious 'inflation' issue. Political narratives are created this way and then remain as long as they are effective for that political party. But, these narratives are not the issue, they detract from the issue. The issue is 'inflation', not just 'cost of living'. Cost of living can be spun to include Democrat agenda issues like government payments, whether they be gasoline credits, COVID subsidies, universal basic income, etc. 'Inflation' does not respond positively to such policies. As a matter of fact, 'inflation' is made worse by such policies. So, try to identify political narratives when you can. They will inform you as to what the real issue is. And, they will inform you how the political parties are changing the issue to their advantage, even if doing so does not improve the real issue (inflation) and is not in the interest of the public (calling it cost of living).

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