A Major Reason Inflation is Stubborn; Aaron Rodgers and Sandy Hook
Author: Greg Valliere
March 14, 2024
STILL ANOTHER SIGN OF STUBBORN INFLATION: In Grass Roots America, there’s growing anger over the surging cost of insurance premiums for everything from housing to autos — and, according to Fed Chairman Jerome Powell, it’s keeping inflation stubbornly high.
POWELL SAID IN TESTIMONY before Congress this week that “insurance of various different kinds — housing insurance, but also automobile insurance, and things like that — have been a significant source of inflation over the last few years.”
ON TUESDAY, data from the Bureau of Labor Statistics showed that its metric for auto insurance — which covers physical damage, liability, and miscellaneous insurance coverage for private passenger vehicles — increased 20.6% over the past year and climbed 0.9% in February compared to the prior month.
EXTREME WEATHER HAS BEEN CITED as a reason for the home insurance premium hikes; it’s difficult to even get home insurance in California, which has been rocked by fires and floods in the past few years. “Companies are withdrawing from writing insurance in some coastal areas,” Powell said. “It’s a significant issue.”
POLITICIANS HAVE BEEN SLOW to point the finger at insurance companies, but that may change if homeowners are unable to find policies. As for the surging cost of premiums, that could become a political hot potato. As student loan relief surges, what about homeowner insurance relief?
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AARON RODGERS, POLITICAL PARIAH: Robert F. Kennedy Jr. — an increasingly visible third party challenger for the presidency — may soon have a credibility problem if he continues to hint that football star Aaron Rodgers is a possible running mate. The buzz yesterday was that Rodgers is on Kennedy’s VP short list, but that might not last long.
CNN REPORTS THAT RODGERS apparently has told reporters that the mass murder at the Sandy Hook Elementary School was an “inside job” staged by the government. “Sandy Hook never happened,” he reportedly has said to reporters. “All those children never existed. They were all actors.” Twenty children and six adults were killed.
ASSERTIONS OF GOVERNMENT INVOLVEMENT have been proved to be false in lawsuits, and Rodgers hasn’t spoken on the issue recently. But he and Kennedy share numerous conspiracy theories; in particular, they are skeptics that vaccines are safe and effective. Kennedy’s famous family is gearing up a campaign against him, mindful that if Kennedy won even 4 or 5 percent of the vote in November, it could affect the outcome in a close race.
THIRD PARTY GROUPS HAD HOPED to lure Nikki Haley, Joe Manchin or Larry Hogan to enter the race, but they have all backed away. One of the few big names still mentioned for a third party run is Liz Cheney, who hasn’t ruled out jumping in.
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