By John Q. Hosedrinker 
A New York court ruled that Robert F. Kennedy Jr. illegally voted in New York while residing in California, a claim supported by public records and witness testimony. This action is criticized by Accountable.US, who question Kennedy’s fitness for public office given his apparent disregard for the law. The ruling adds to concerns surrounding several controversial cabinet nominees for the incoming Trump administration. Kennedy’s team has not yet responded to the allegations.
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The Federal Reserve, and frankly, most economists, anticipate a significant worsening of inflation under a Trump presidency. His proposed policies, across the board, are predicted to exert considerable upward pressure on prices.
This isn’t just a matter of opinion; it’s a widely held consensus based on a fundamental understanding of economic principles and the potential ramifications of his specific proposals. The implications are far-reaching and affect virtually every facet of the economy.
One major concern centers around tariffs. Imposing significant tariffs on imports, while simultaneously facing retaliatory tariffs on exports, creates a scenario where the cost of goods dramatically increases. This isn’t confined to the targeted goods; the increased costs ripple through the entire supply chain, impacting the price of everything from raw materials to finished products. Even seemingly small increases in the price of components for electronics, for example, could lead to substantially higher prices for consumers.
Labor shortages also pose a serious threat. Mass deportations would severely impact industries heavily reliant on immigrant labor, such as agriculture, construction, and food processing. The resulting labor scarcity would drive up wages and, consequently, the prices of goods and services. Finding qualified workers to fill these crucial roles would become extremely difficult.
Trump’s foreign policy adds another layer of complexity. His confrontational approach, particularly toward allies, destabilizes international relations and trade partnerships. This isn’t just about grand gestures; it impacts everyday items. Strained relations with key trading partners like Canada and European nations could significantly increase the cost of imports, from food and energy to pharmaceuticals like Ozempic and Wegovy. Increased trade restrictions and visa requirements would further complicate international trade and travel, resulting in added costs for consumers and businesses alike.
His approach to environmental protection is also a cause for worry. A lack of adequate investment in disaster mitigation and response mechanisms translates to increased expenses for state and local governments, placing further strain on already stretched budgets. Coupled with potential tax cuts that aren’t offset by spending cuts, this intensifies the national debt, further fueling inflation.
Tax cuts, while potentially popular politically, are another significant concern. While Trump might be able to secure tax cuts, the likelihood of simultaneously cutting government spending is slim. This inevitably results in larger budget deficits, adding to the national debt and creating inflationary pressure. The potential for cuts to programs like Social Security and Medicare, while politically fraught, would only exacerbate the problem and increase public unrest.
The combination of these factors paints a rather bleak picture for inflation. Any perceived “soft landing” achieved under previous administrations risks being overshadowed by a significant inflationary surge under a Trump administration. This isn’t merely a prediction; it’s a foreseeable consequence of his policy proposals. This isn’t a matter of partisan politics; this is basic economics.
The impact extends far beyond headline numbers. The increased cost of goods and services will disproportionately affect low-income families, limiting their access to essential items and diminishing their quality of life. It’s a potential economic crisis that goes beyond theoretical concerns. This isn’t a matter of opinion, it’s a likely scenario based on the widely understood economic effects of the proposed policies.
While some might argue that alternative solutions exist, the reality is that most economic experts anticipate considerable inflationary pressure under a Trump administration, irrespective of any potential mitigating actions. The sheer scope and interconnectedness of these predicted consequences strongly suggest an unwelcome surge in inflation. The belief that this is a significant risk is not confined to the Federal Reserve; it’s a prevalent understanding among a broad spectrum of economic professionals.