Link Between Government COVID-19 Policies and Inflation | Beaufort County Now | Helen Raleigh writes at the Federalist about the role pandemic-inspired government policies have played in spurring inflation.

Coronavirus Disease 2019 (COVID-19)
Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Mitch Kokai.

    Helen Raleigh writes at the Federalist about the role pandemic-inspired government policies have played in spurring inflation.

  • Besides food, gas, and cars, another category that significantly affects American families and American businesses is lumber. The price of lumber has gone up 340 percent since the lockdowns began. As of May 7, the cost per thousand board feet of lumber soared to $1,686, an all-time high. This surge is partly the result of a supply-demand mismatch caused by government policies.
  • Last year, government lockdowns caused many mills to halt production or even go out of business. Simultaneously, the demand for lumber went up when Americans who were forced to shelter at home rushed to buy materials for home improvement projects. Then the Federal Reserve responded to the lockdown-induced economic recession with near-zero interest rates, which contributed to a housing boom. This government-driven demand for DIY projects and new homes has exacerbated the lumber shortage and together driven up the price of lumber.
  • The high cost of lumber, in turn, has made new homes more expensive. According to the National Association of Home Builders (NAHB), expensive lumber costs now add $36,000 to the average of new homes. NAHB Chairman Chuck Fowke said in a statement. "This unprecedented price surge is hurting American home buyers and home builders and impeding housing and economic growth." ...
  • ... While larger businesses may either have more capacity to absorb inflation or can afford to pass on higher costs to consumers, inflation hurts everyday working people the most because they have less ability to withstand price increases on a limited income. So they resort to penny-pinching: buying less than they need; switching from higher-quality brands to lower quality but cheaper brands; and postponing or foregoing specific expenditures such as eating out at restaurants or taking trips to visit friends or family. Since consumer spending drives about 70 percent of the U.S. economy, when consumers are cutting back, the U.S. economy will suffer.

Go Back

HbAD0

Latest Op-Ed & Politics

So, the Sheriff is a participating member of this august body of law enforcement professionals that demand accountability from all Deputies. Yet, he does not demand the same from himself.
On Friday, famed actor James Woods, an outspoken conservative, which makes him an anomaly in the vast leftism of Hollywood, tweeted a photo of a rib-eye steak with its exorbitant price and added one rapidly mushrooming meme.
Last week, the Martin Center reported on the UNC system’s mandated move to Raleigh in 2022. Now, members of the UNC Board of Governors are questioning the speed and the process behind the decision.
State Controller Linda Combs is going to court to block a recent ruling in the long-running Leandro school funding case.
Next week we are entering the most critical time of any election. Registration to run in the November 2022 elections begins tomorrow, Monday December 6 at 12:00 Noon and ends Friday December 17 at 12:00 Noon.
Former “Today” show contributor and “Access Hollywood” host Billy Bush blasted NBC on Friday, the fifth anniversary of the day he was fired for a recorded private conversation he had with then-Presidential candidate Donald Trump when Trump was a guest on “Access Hollywood.”
oday, Governor Roy Cooper and Attorney General Josh Stein filed an amicus brief in the North Carolina Supreme Court that urges the Court to quickly hear and decide two cases that challenge the constitutionality of congressional and state legislative districts enacted by the Republican members.
President Biden is no different from the rest of us. He’s living his life, browsing in a store over a holiday weekend.
To preserve liberty, it is essential that the whole body of the people always possess arms and be taught how to use them.

HbAD1

On Monday, a Virginia juvenile court essentially found a 15-year-old guilty (the word “guilty” is not used in juvenile court) of sexually assaulting a fellow classmate in a girls’ bathroom at a high school in Loudoun County, Virginia.
Supreme Court stops legislative, Congressional filing
Face it. Everyone has someone on their list for whom it is difficult to shop. What do they like? Is it the right color or size? Do they already have it?
If the state Supreme Court decides to remove two Republican justices from hearing a high-profile case involving voter ID, the court also should remove Democratic Justice Anita Earls. That’s according to a new motion filed Wednesday in the case.
On Thursday, Fox News’ Chris Wallace, commenting on the trend among Democrats and President Biden to claim that Biden’s Build Back Better agenda that encompasses the $3.5 trillion reconciliation package would “cost zero,” snapped, “this might be the dumbest spin line I’ve ever heard.”
As inflation continues to rise and supply chains continue to break, the Biden administration on Friday unveiled a first-ever “National Gender Strategy,” aimed at rectifying supposed gender inequality in the U.S. and abroad.
Governor Roy Cooper appointed Hank Bauer to be the North Carolina Alcoholic Beverage Control Commission (NC ABC Commission) Chairman today.
Candidate filing for the U.S. House, N.C. House, and N.C. Senate will begin at 8 a.m. Tuesday, December 7, following a Monday evening reversal of an earlier order suspending filing for those offices.

HbAD2

Two out of three adults in North Carolina (68%) say the coronavirus pandemic won’t prevent them from traveling during the holiday season.
The new September jobs report numbers, released on Friday, proved yet another disaster for the Biden administration to contend with, as business analysts labeled the numbers the “worst” of the year and revealed that labor shortages are “getting worse.”
The Beaufort County Commissioners will get another bite at the patriotic apple, a fruit they far too often hold in great disdain, to pass this necessary resolution.
Governor Roy Cooper has signed the Accountability and Fair Play in Athletics bill into law.
State Senator Norman W. Sanderson (R-District 2) of Pamlico County was honored by the North Carolina Republican Party by being inducted into the party’s statewide Hall of Fame during its 20th biennial awards banquet in Raleigh, N.C., Saturday, Dec. 4, 2021.
Virginia gubernatorial candidate Terry McAuliffe was asked by a local journalist to define Critical Race Theory in light of concerns raised by parents in Virginia school districts. He failed, instead suggesting that parents who oppose teaching elements of CRT as part of K-12 curriculum are racist.
Ban unvaccinated from grocery stores
First, I want to thank Commissioner Hood Richardson for bringing Sheriff Coleman's out of control spending and abuse of the overtime budget line item to my attention.

HbAD3

 
Back to Top