Posted on 06/27/2024 6:20:28 AM PDT by MtnClimber
Reprinted, with permission, from the Committee to Unleash Prosperity‘s daily must-read Hotline email.
We have our hand on the Bible swearing we are not making this story up.
A gang of 16 Nobel prize-winning economists signed a letter yesterday endorsing Joe Biden for president because: “There is rightly a worry that Donald Trump will reignite inflation with his fiscally irresponsible budgets.”
But then our colleague, Scott Bessent, noticed something strange and ironic about the signatories: 13 of these economists signed a highly-publicized open letter three years ago assuring Americans that Biden’s “Build Back Better” spending spree would “ease longer-term inflationary pressures.”
Then — whoops! — 18 months later inflation soared to 9.1% under Biden – the worst U.S. inflation in almost 40 years! This would be the medical equivalent of amputating the wrong leg.
Here’s the overlapping list of these economists who were spectacularly wrong in 2021, but whom we are supposed to believe are right this time around.
The chef’s kiss is that the first listed signer on both letters, George Akerlof, is Janet Yellen’s husband.
We argued then that Joe Stiglitz (and the rest of these scoundrels) should do the standup thing, send back their Nobels and Ph.D.s, and admit that when it comes to the real world, they have no idea what they are talking about.
Instead, they are now predicting that if Trump is elected, he will reignite inflation even though the average inflation rate during Trump’s first term was 2.5% versus closer to 5.5% under Biden. Are these scholars so buttonholed in their ivory towers that they are unaware of this basic fact?
Here is the comparison of inflation under Trump and Biden.
The mission of the Committee to Unleash Prosperity is to educate policy makers and the public about government policies that have been proven, in practice, to maximize economic growth and equitable prosperity in America and around the world.
These economists have a track record now. It does not look good. They are lying dog-faced pony soldiers.
TRANSITORY
Hmm. That graph works out to about 25% increase in prices since FJB took office. Strange how that number keeps coming up.
Never trust a Marxist ecomomist in any matter of importance.
Nobel prize means but a Left-Wing lackey
THE only function of economic forecasting is to make astrology look respectable. -John Kenneth Galbraith
No conflict of interest there, nosiree.
A Nobel isn’t what it used to be.
I heard on the news this morning that all 13 donate to the dnc and or biden so that makes their opinion useless.
The 2024 version of the "50 Intel Officials Denying Hunter's Laptop Letter".
Nobel prize means but a Left-Wing lackey
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Bingo!
That is the criteria to be met for receiving a prize.
When Biden or the moderators bring this up in the debate, Trump should reply that these marxist economists shouls take off their communist glasses and look at the data clearly. americans were not paying ~3.50 for a gallon of gas, $10 dollars for a Big Mac, exhorbitant utility rates, almost double the price for groceries and rent under Trump. Biden did all that and will make things even worse if relected.
Yellen’s husband?. Sheesh. Do they ever play it straight? They spend all day every day scamming the people
PS is he a Hobbit, too, or is a mixed marriage?
The Noble Prize has never recovered from giving Yasser Arafat the Noble Peace Prize
They destroyed the brand and frankly no one cares about Noble Prizes anymore
Back in the day it was a big deal but have not heard the results in a decade and actually kind of forgot Noble Prizes even exist any more
This was the morning headline on AOL News: Walgreens plans store closures as CEO says consumers ‘stunned’ by prices. I guess the Nobel Prize winners shop at the Dollar Store for their pharmaceuticals and household goods.
I wonder if these 13 Nobel economists know the 51 former intel officials?
Why doesn’t Trump have his own list of economists to refute this, and neutralize the talking point?
This is a no- brainer. His consultants s#ck.
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