Biden was in office for two years when Ford made his famous “Whip Inflation Now” speech in 1974. He was in office for six years when Carter delivered his own speech on inflation. You think this moron would have learned something about economics after 50 years in public office.
Markets were all in positive territory BEFORE his speech but the DOW closed down 85 points. His remedy for inflation is to print (PRINT) another trillion dollars, further devaluing the USD. This result of printing more dollars is ECON 101 stuff. Can any administration be this obtuse? Do democrats trade in any currency other than cognitive dissonance?
(1) Kudlow: This is the key to economic recovery (Fox Business)
“As I said last evening, Powell was the non-Volcker. The Fed institutionally will never admit its mistakes and Jay Powell did some fibbing yesterday in his news conference because when he wasn’t sugar-coating the soft landing or blaming Putin for inflation, he never mentioned the wage-price spiral that has become embedded in the U.S. economy.”
It’s not a question of WHEN but HOW deep and Paul Krugman (and his fellow travelers at commie dens like Columbia and the University of Michigan) are like Rasputin and ought to be smoked out.
(1) Democrat Strategist: U.S. Has ‘Lost Confidence’ in Joe Biden, ‘Heading into a Recession’ (Breitbart)
(2) Inflation Haunts the Biden Economy (WSJ)
“So how’s the U.S. government’s grand experiment in modern monetary theory turning out? Not well. Consumer prices over the past 12 months rose 7.5%—the most in 40 years—while real wages declined 1.7%, the Bureau of Labor Statistics reported Thursday.”
The Wizard of Oz and his flying monkeys want you to believe the minor incursion of Russia in Ukraine is the cause of rampant inflation. Don’t be fooled because inflation was surging before the latest foreign policy crisis. The cause of inflation is the MASSIVE printing of dollars (spend, spend, spend) and has been exacerbated by energy policies that restrict new supply and the FEDs massive balance sheet. This is all by design and Biden is lying, scapegoating, and deflecting when he (or his propaganda ministers) say otherwise.
(1) The Biden Inflation Tax, Made Clear in One Chart (Real Clear Politics) < This article is from August 2021!
(2) ‘Tell America what should be done to fight inflation’ by Dr. Tim Nash (Northwood University)
Don’t underestimate the heinous acts a zealot will take to protect their faith. The elites like John Kerry really believe, as a matter of faith, the climate change “experts” who predict the imminent collapse of civilization.
The push for higher energy prices were telegraphed by Obama and Biden (or his handlers) have picked up the mantra. Biden is making up for lost time since Obama preferred gradual versus shockingly abrupt. The elites want $10.00 per gallon gasoline and $250/$300 per barrel oil. Are their motives purely about accelerating the transition to green energy? How much stock do these elites own in green energy companies?
What’s going on in Joe Biden’s mind? (The New Neo)
“When a sieve is shaken, the husks appear; so do one’s faults when one speaks. As the test of what the potter molds is in the furnace, so in tribulation is the test of the just. The fruit of a tree shows the care it has had; so too does one’s speech disclose the bent of one’s mind. Praise no one before he speaks, for it is then that people are tested.”
Back to the potters wheel for a second…
On the train back to London and a couple of dandies’ (classically trained musicians) were throatily arguing for escalation and US involvement in the Ukraine. I was shocked by the uniformity of thought and believe it’s driven by the same kind of mass hysteria used to harden the COVID response. My intent here isn’t to weigh in on the ethical/moral justifications for escalation, but rather to comment on the perniciousness of groupthink. It’s a formula being perfected by those in power and it will undoubtedly be unleashed on anyone (or any group) countering official narratives once this latest crisis passes. So please beware of politicians who use the phrase ‘global democracy’ because it does NOT mean your individual rights but accepting inflation as a patriotic duty¹ or a regulated thermostat or whatever sacrifice the ruling class requires you to accept next for the public good.
Attitudes via Instapundit
Lindsey Graham doubles down on call for Vladimir Putin’s assassination via NY Post
¹Standing up for our values is not without cost.
Those are the words a cognitively impaired Biden uses when he forgets his train of thoughts and fits perfectly where we are right now as a country. IF you ever said (or thought) things couldn’t get worse than get ready for more heaps of cognitive dissonance flung at you by the “expert” class as they gaslight you into disbelieving your own eyes.
**Update: Right on cue, and now that COVID has ended, we’re rolling to the next manufactured crisis. Psaki suggests that “standing up for our values is not without cost” (see point four) and other elites are invoking history (Pelosi and Graham) to justify this next round of manipulation and exploitation.
Russia / Ukraine
(1) Biden and Harris want to lecture us on the inviolability of borders whilst our southern border remains open.
(2) Biden (and other elites) have gotten rich from their ventures in the Ukraine so our intertest in protecting this authoritarian (via blood and treasure) regime is just about protecting their financial interests.
(3) Biden talks about protecting “freedom” and “liberty” via intervention in Eastern Europe whilst failing to condemn the actions of Trudeau’s crackdown on civil liberties via the Emergency Act.
(4) Biden is using our intervention in the Ukraine as a distraction from domestic turmoil, specifically surging energy prices. He wants you to pay $6 or $7 a gallon to promote investment in green technology.
(5) Biden is likely hoping tensions in the Ukraine delay a decision by the Federal Reserve to raise interest rates (which will likely topple this entire house of cards).
(6) Biden is using as a wedge between the two factions of the GOP (see below).
The GOP is also exploiting the situation to make RINOs (establishmentarians) like Pence, Rubio, Cheney, Graham, McConnell and Romney look palatable and less insufferable.
(1) CBO Score of Permanent Costs of Build Back Better Act Show $3 Trillion Increase in Deficits Transformational policies are not temporary policies. If Democrats truly believe the BBBA is transformational, then today’s CBO score is a more accurate reflection of the measure’s cost. (PRN)
(2) Dollar Purchasing Power Plunges. Inflation +6.2%. For Urban Wage Earners +6.9%, Highest in 40 years, Most Monstrously Overstimulated Economy Ever. (Wolf Street)
Fed still printing money and repressing “real” interest rates to negative 6%, new vehicle prices spike by most since 1975, housing CPI jumps, food & energy soar.
(3) ‘Not good enough’: Democrats scale back $600 IRS disclosure after backlash (Washington Times)
(4) What living in a delusion looks like… (John Talks via YouTube)
Jim Cramer as Baghdad Bob:
(5) “The Strongest Economy I’ve Ever Seen” (Memology 101 via YouTube)
(5a) CNBC Host DEMANDS Military Enforcement Of Vaccinations In Insane Rant (Timcast IRL via YouTube)