Posted on 02/15/2023 5:34:53 AM PST by MtnClimber
Almost exactly two years ago today, the New York Times ran an article headlined: “Biden and Fed Leave 1970s Inflation Fears Behind.”
That story has not aged well. Neither have the troika of ideologues and imbeciles behind the rebirth of ‘70s-era inflation.
On Tuesday, the Bureau of Labor Statistics reported that prices climbed 0.5% in January, which is up from December’s 0.1% hike. Prices were up 6.4% over the year before, which is higher than economists had been predicting and comes amid warnings that inflationary pressures are building again.
This all comes one week after President Biden reassured the nation that “here at home, inflation is coming down.”
And it comes two years after the New York Times reported how Biden, Treasury Secretary Janet Yellen, and Federal Reserve Board Chairman Jerome Powell were all in agreement that spending $1.9 trillion to stimulate an economy that was already roaring back from the COVID lockdowns would not set off an inflationary spiral.
“Administration and Fed officials argue that workers not getting enough stimulus help is a larger concern than potential spikes in consumer prices,” the Times wrote on February 15, 2021.
The story quotes Yellen saying “I have spent many years studying inflation and worrying about inflation. But we face a huge economic challenge here and tremendous suffering in the country. We have got to address that. That’s the biggest risk.”
The Times notes that Powell gave a speech in which he pushed back on the idea that Biden’s spending splurge combined with easy money when the economy was roaring back from the COVID lockdowns would spark inflation.
Biden said grocery prices were going down.
Because he’s not Trump?
************
That may well be true. But they live under the same rules
that we all do. Thus they should be experiencing the same
situations everyone else has. Just not reported, imo.
.
There it is.
Yes...but they are useful idiots to the psychos who get the idiots to vote for them time after time.
Maybe they are waiting for the food supply to run out, then problems can be blamed on famine.
There can be no accountability in government, when a stolen election goes unchallenged.
What a dumb question. Because they don’t care and apparently, neither do sufficient “voters”.
Re #5. Biden’s firing happens at 12p on Jan 20, 2025. He may lose the election, but not removed until Inauguration Day.
Sniffer I understand, we get Heels Up. But, what do Powell and Yellen have on jOkeass?
Tremendous suffering in the country
It only took the democrats two years to get us there.
He gets time to wrap up his affairs, I guess.
They’re collapsing the economy according to plan.
And the only “alternative” - social media - was also “in the bag” - with Elon dumping the goods on the feds and Twitter in blatant cahoots to suppress and even shut down any opposing voices and FACTS.
And as bad as Twitter was - imagine Facebook - which has always been 100X worse about “fact-checking” with entities that are radical, marxist and purveyors of blatant propaganda...
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