BIDEN: Does not control the economy

Recently Mr. Olson, wrote to blame President Biden for inflation. That is like blaming the fire department for arson.

Presidents don’t control inflation. Presidents make policies that influence the economy; but they have never controlled inflation.

A far better culprit would be hedge funds. Have you checked the dividends of the big oil and gas companies recently? The performance bonuses the CEO and board members are making? If you have a problem with inflation and the price of gasoline, then you really need to look at the people who actually set the prices for petroleum products.

Why would a company charge $3 a gallon if they can charge $4? This is capitalism! Enhancing profit margins. Yikes! Do you prefer a communist controlled economy? Price fixing is what communist China and Russia do.

Pharmaceutical prices too high? Biden is the one trying to get lower prices while the industry lobbyist fight to keep prices and profits high!

Biden is trying to accelerate the shift away from fossil fuels. Yet, even before Biden, Big Oil recognized the need to shift and have been actively rebranding themselves as Energy Companies (British Petroleum becomes BP) and they are investing heavy in other energy projects. Check your 401K if you have one; they are likely investing in these Energy Companies and are doing rather well.

Clinging to oil and gas is like living in 1903 and investing in a stage coach line instead of Ford Motors! Good luck with that.

You may not like President Biden. But is he a superhero with special powers? No! He does not control the economy — no one person does.

BRYAR THORNWALKER

Post Falls