Posted on 11/02/2022 5:24:30 PM PDT by ChicagoConservative27
On Wednesday’s broadcast of Bloomberg’s “Balance of Power,” New Jersey Gov. Phil Murphy (D) stated that the Federal Reserve doesn’t have any “other choice but to be aggressive” with hiking interest rates in order to control inflation and that inflation has been caused by “factors that are beyond our control, whether it’s COVID relief or a war in Europe,” which means the Fed has to “do a Paul Volcker here and get out ahead of this.”
Murphy stated that the recent rate hikes by the Federal Reserve have made the state’s borrowing costs go up, “although, we’ve been very opportunistic over the past five years to defease and pay down a lot of debt and a lot of debt avoidance. So, it is clearly — I’m far more concerned about the impact at somebody’s kitchen table than I am right now on our balance sheet, and I don’t think the Fed has any choice. These are factors that are beyond our control, whether it’s COVID relief or a war in Europe, there’s no other choice but to be aggressive and do a Paul Volcker here and get out ahead of this.”
(Excerpt) Read more at breitbart.com ...
Inflation due to spending out of control and beyond belief
“Inflation is always and everywhere a monetary phenomenon” - Milton Friedman
We may have been able to survive the Pandemic inflation with the tsunami of growth naturally coming after the lockdowns.
But there is no way you can supercharge an economy without energy. Joe Biden’s war on ‘Fossil Fuel’ killed any chance of recovery. All by design
The direction toward high inflation was initially triggered when Brandon shut down the oil pipelines and eliminated whatever energy independence we had in this country. I believe that was one of the first things he “penned”.
Inflation is always and everywhere a monetary phenomenon. It’s always and everywhere, a result of too much money, of a more rapid increase in the quantity of money than in output. Moreover, in the modern era, the important next step is to recognize that today, governments control the quantity of money. So that as a result, inflation in the United States is made in Washington and nowhere else.
If you listen to people in Washington talk, they will tell you that inflation is produced by greedy businessmen or it’s produced by grasping unions or it’s produced by spendthrift consumers, or maybe, it’s those terrible Arab Sheikhs who are producing it. Now, of course, businessmen are greedy. Who of us isn’t? Trade unions are grasping. Who of us isn’t? And there’s no doubt that the consumer is a spendthrift. At least every man knows that about his wife.
But none of them produce inflation for the very simple reason that neither the businessman, nor the trade union, nor the housewife has a printing press in their basement on which they can turn out those green pieces of paper we call money.
Democrats really are evil.
Bingo! Democrat spending PLUS Biden’s Greta Thunberg policies = inflation.
Another Goldman Sacks brainiac.
“But none of them produce inflation for the very simple reason that neither the businessman, nor the trade union, nor the housewife has a printing press in their basement on which they can turn out those green pieces of paper we call money.”
I like deflationary policies.
It gets rid of arrogant “know it all” attitudes & toughens people up.
So, if a chipmunk comes out of his hole in New Jersey on Halloween and sees his shadow, will we have four more weeks of autumn or just immediate DARK winter?
Oh, sorry! Wrong state, wrong day, wrong season, and wrong critter.
Lighten up Murph, you’re making an ass out of yourself again.
The short version; dems are going to keep doing the same thing until it works. Or the next election cycle.
Any chance even Ireland would take back this bucket of snots?
It’s all self inflicted.
Elect democrats and this is what you get,Destruction Of Country
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