Posted on 05/03/2024 8:13:43 PM PDT by Paladin2
A viral clip of an interview with President Joe Biden’s economic adviser Jared Bernstein shows the official struggling to explain why the U.S. government chooses to borrow money when it can just print more.
"The government definitely prints money, and it definitely lends that money … by selling bonds. Is that what they do? They sell bonds, yeah, they sell bonds. Right? Since they sell bonds, and people buy the bonds and lend them the money," Bernstein, chair of the Council of Economic Advisers, said when asked why the federal government borrows currency it can print.
"I guess I’m just, I can’t really, I don’t get it. I don’t know what they’re talking about," the economic adviser to Biden added. "Like, 'cause it’s like the government clearly prints money; it does it all the time. And it clearly borrows. Otherwise we wouldn’t be having [this] conversation. So I don’t think there’s anything confusing there."
Bernstein's comments came during an interview for the newly released documentary Finding the Money, which makes the case for "flipping our understanding of the national debt," arguing that the debt is "not actually a debt for us taxpayers at all" but "simply a historical record of the number of dollars created by the U.S. federal government."
While Bernstein has specialized in economics for decades, he holds no degrees in the field, according to his biography on a White House website. Bernstein has a bachelor’s degree in fine arts from the Manhattan School of Music, a master's degree in social work from the Hunter School of Social Work, and a master's degree in philosophy and Ph.D. in social welfare from Columbia University.
Bernstein has served since July 2023 as the head of the Council of Economic Advisers, an agency "charged with providing the President objective economic advice on the formulation of both domestic and international economic policy."
Bernstein was also the chief economic adviser to then-vice president Biden in the Obama administration from 2009 to 2011.
Published under: Council of Economic Advisers , Jared Bernstein , Joe Biden
The same, insane gov’t has Peter Navarro in gaol.
From the article:
While Bernstein has specialized in economics for decades, he holds no degrees in the field, according to his biography on a White House website. Bernstein has a bachelor’s degree in fine arts from the Manhattan School of Music, a master’s degree in social work from the Hunter School of Social Work, and a master’s degree in philosophy and Ph.D. in social welfare from Columbia University
Makes one wonder....how did a guy with limited to no background in economics...get invited into the Obama circle of economic experts, and keep the fake act going through the Joe Biden era as well?
I’ve watched the video twice...guy has knowledge base of a 18-year old kid who took one single class in basic economics. With this...he’s guiding the insiders to the White House?
Reminds me of that movie ‘Being There’ and the character Chauncey Gardner. People were stupid and falling over themselves to believe in what the guy said, but he had the mentality of a 6-year old kid.
Oh c’mon. That’s Macro 200. Simple stuff.
Idiots rule
Idiocracy
The movie that began as a comedy and ended as a documentary.
0bama and Joetato both seem to have a policy of not hiring anyone smarter than themselves. That set the bar at calf level for the 0bama admin, in the Biden admin the bar is buried six feet deep.
“”I don’t get it. I don’t know what they’re talking about,””
.
Lemme `splane Jared.
Gubberment prints up (computer entry) a few billion dollars.
Then they talk about it on the news (saving democrazy, party of the oppressed, etc.)
Good `ol Jared will not see a penny of that money and afterwards, he WILL get the bill for his share of all the interest on that money that got laundered by shipping to the Uke, China, Ham-azz, BLM etc.
Just cause you are a prog doesn’t exempt you from the extortion, it just means the commies-in-charge might, maybe, possibly remember to say “thanks sucker!”
.
(”I guess I’m just, I can’t really, I don’t get it. I don’t know what they’re talking about,” the economic adviser to Biden added. “Like, ‘cause it’s like the government clearly prints money; it does it all the time. And it clearly borrows. Otherwise we wouldn’t be having [this] conversation. So I don’t think there’s anything confusing there.”)
When one just can’t spin the lies in any halfway-coherent fashion...
Aka, the movie first regarded as fiction, later became fact.
It is unlikely this guy ever took Econ 101. He was a Music major at the Manhattan School of Music. He played jazz on the bass. I doubt the school has an economic department or econ faculty. Bad enough Joe appointed him but the senate approved him.
An “economic” advisor who knows nothing of economics.
He specializes in a field of which he knows nothing. That, of course, doesn’t stop him from giving advice.
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Wow...
So Bernstein evolved from “Let them eat cake” to “Beats the F out of me.”
Yup.
A clearer grasp of the obvious I’ve never seen.
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