War and High Prices
It should be no surprise that after five years of war in Iraq the US is experiencing skyrocketing prices on just about everything. Inflation follows war as sure as night follows day. This has been true since the dawn of history. Although politicians tout “no new taxes, ” the implements of war must be paid for.
The military needs guns, bullets, bombs, vehicles, planes, uniforms and lots of them. The government simply borrows or prints more money to pay for stuff but in doing so it decreases the value of each dollar so we need more of them to buy our stuff. Wars are financed by inflation.
Last week the price of a barrel of oil was almost $120. It wasn’t so much that oil became more expensive but that the dollar was worth so little. We now need $120 to buy what we could have bought for $100 just weeks ago.
In war time we use our money to blow up and destroy things and people. Inflation also destroys. It erodes our savings and our purchasing power. It causes misery. Once law abiding citizens are now seen stealing gas by driving off without paying or siphoning from others. Higher prices on foodstuffs has sent more and more people to the food bank. Where has all our money gone? gone to war most of it has.