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This is the Tom Hartman program.

Interesting piece by a bail bay down.

It's over at common dreams.com or dot org rather.

It's titled interest rate hikes won't solve the affordability crisis.

And basically what it is, it's a story about inflation and how inflation is arguably the

main problem that is causing people to down rank Joe Biden's handling of the economy.

What they're pointing out is that inflation traditionally was viewed as a demand problem,

as a demand side problem. In other words, there's more demand for goods and services than there

are goods and services. So people start bidding them up. It's like, you know, Taylor Swift tickets,

right? You know, the tickets may be five hundred bucks, but when they're all sold out,

there's an aftermarket and they start going for a thousand or two thousand or five thousand

dollars just to get in. So when things are scarce, the price gets bit up.

And so the prevailing wisdom was that there's all this demand for goods and services for stuff.

We want to buy things. And there's not enough things to buy. And so that's driving up prices.

In fact, a whole bunch of economists, including Nobel Prize winners like Paul Krugman,

...