Dan Meuser is not quite my representative in Congress yet. It may soon be, but that time has not yet come. If so, I hope Dan will take the time to listen to his constituents – all of them, not just those registered as Republicans, that he will contribute to the general welfare of all of us, and that he will be committed to the truth. . If Dan’s op-ed (Retreating Economy Creates Weakness, June 4) is any indicator, Dan has work to do. Let me drop a few observations on Dan’s path.
Dan, if you’re going to label the president’s view of the nation’s economic situation as “backward,” you could explain what your agenda is all about and clarify the differences. It’s not a “good idea” until it’s an idea. While you’re at it, economic activity in a capitalist society depends on market exchanges between buyers and sellers. Price of something (petrol?) too high? Useless. Significant drops in demand eventually lead to price adjustments. I agree that is how it is supposed to work in a time of stable markets. Dan, you failed to mention that we live in troubled times. Have you noticed that there is a war going on in Europe and there is a general boycott of Russian oil as one of the West’s tools to exert leverage against Putin? Biden is trying to get OPEC to pump more oil. The last time a US president pressured OPEC to change production was in April 2020, when Trump asked OPEC to cut production to support the price of oil. Go figure, an American president (as well as the oil industry) wanted to drive up the price of oil.
While we’re talking about oil, you got the Keystone pipeline wrong again. The Keystone Pipeline is contrary to what you said in your editorial. The Keystone XL is not for various reasons. Three of the notable issues Keystone XL faced included the environmental impact concerns of building a pipeline through a major aquifer in the Midwest, Sioux opposition to the pipeline crossing tribal lands, and the use of a eminent domain by a Canadian private company to seize transit rights. of American citizens. Both pipelines were to transport primarily Canadian oil and oil sands and primarily for overseas sales. At the time Keystone XL was cancelled, it was only 8% complete and was not going to play a role in solving current shortages. The truth is that fuel and food are the two components of the economy most subject to price fluctuations and least subject to the control of the president or congress – but you knew that.
You blamed Biden for the 1.5% decline in gross domestic output last quarter. And there you were almost right. It was 1.4%. However, I noted that nowhere did you pluck up the courage to give Biden an attaboy for the economy’s 6.9% growth in the penultimate quarter. Unemployment is at 3.6%, a level almost never reached. what is Biden doing?
The truth is Dan that microeconomics is complicated and influenced but rarely controlled.
If you are my representative next year, will you promise me to do better? I’m not asking you to be an Eagle Scout, but that would certainly be fine.
Joseph R. Fischer lives in Northumberland.