Posted on 06/26/2024 2:28:58 AM PDT by Kaiser8408a
Hey big spenders (Biden, Congress and the 16 Nobel prize winning economists).
June 25 (Reuters) – Sixteen Nobel prize-winning economists signed a letter on Tuesday warning that the U.S. and world economy will suffer if Republican presidential candidate Donald Trump wins the U.S. presidential election in November.
The jointly signed letter, first reported by Axios, says the economic agenda of U.S. President Joe Biden, a Democrat, is “vastly superior” to Trump’s, the former Republican president seeking a second term.
Read the source article from Reuters for the rest of the Marxist clown show. What Joe Stiglitz and other Leftist economists are cheerleading in the excessive post Covid spending spree that Biden and Congress went on. There is a different between a free market system and government directed spending, usually on large donors.
One source of crippling inflation under Biden is (wasteful) government spending, up 37.7% under Biden. Federal debt is up a nauseating 50% under Biden. These levels of spending and debt are NOT sustainable!
Another souce of inflation under Biden has been The Federal Reserve. With Covid. The Fed entered like gangbusters dropping their target rate to 25 basis points and massively increasing their balance sheet. Call this BIDEN 1. Then to squelch inflation, The Fed raised their target rate and slowly started to unwind the balance sheet. We saw a slowing of inflation. Nothing to do with Biden, although I am sure he will take credit for it at Thursday’s debate with Trump.
Inflation was growing rapidly in Biden 1, but inflation started to slow (Biden 2) as The Fed rapidly raised their target rate.
(Excerpt) Read more at confoundedinterest.net ...
IMHO, a Nobel Prize in economics is a beer coaster.
Shutting down several fed alphabets will go a long way to cutting government spending.
It’s not even that good.
And 51 “Top Intelligence Professionals” said the lap top was a Russian fake.
Bwa ha ha ha ha ha ha ha ha
Same guys who crammed Keynes down everyone’s throat causing our current catastrophe.
Yup, they are all Keynesian/Marxists. And The Fed is the donkey ddriving up inflation. And Trump has nothing to do with The Fed.
Inflation is always and everywhere a monetary phenomenon. Milton Friedman.
Gubmint is really good at this. The phenomenon is called seignorage and derives from the right to print money. Governmne prints it and spends it while creating no economically useful goods or services in exchange - voila more money chasing the same goods and services already in the economy causing prices to do what?
Politically correct answer - it drives anti-democratic racist scalpers to raise their prices to polically incorrect levels instead of increasing efficiency or donating goods and labor to the needs of a beneficent gubming bureaucracy looking out for the good of its people, unless it’s Trump in power, then Trump is the problem.
Experts signing letters is a sure sign that the opposite of the content of those letters is the far better bet.
Is this like 51 Intel experts?
Nixon was the main modern driver.”We are all Keynesians now!”
Cant we just compare Trumps policies and Bidens policies against each other since they both have had a term to show us whats up? Shall we look at real inflation charts for the last 8 years.
this looks like a planted piece for the coming debate. kind of like the 51 intel agent laptop letter. we’ll see.
There is no need for speculation. Both men had the job. Which one had the inflation? Silly collectivist economists. They never learn.
Is this similar to ‘51 former intelligence officials?’
What does the woman-child Alexandria Ocasio-Cortez have to say? The brainless teenager has a degree in Economics 101. I’m sure her Nobel Prize signature is on the list. /spit
Both sides suck at fixing the debt and brag how they reduce the deficit which many Americans are to stupid to know any deficit is more debt.
We need to eliminate the debt by cutting any spending in excess of taxes collected... Balanced budget, to start with and then eliminate half of government and all social programs including SS and yes it needs to be phased out not just stopped and yes I collect SS.
My non-Nobel opinion is that if you drive down the cost of energy, inflation will be reduced. Trump will do that.
Obama won the Nobel prize...
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