Skip to comments.Treasury Secretary Confesses: "I Don't Understand Inflation" [semi-satire]
Posted on 06/08/2022 10:09:16 AM PDT by John Semmens
During an interview aired on CNN's "Situation Room," Biden Administration Secretary of the Treasury Janet Yellen admitted "I don't understand inflation. Everyone in the Administration is dead set against inflation. It's not like there are disagreements regarding its negative effects. Yet, despite this unanimity among those of us making economic policy inflation is wrecking the lives of ordinary Americans."
Yellen's admission was stunning considering she has a PhD in economics from Harvard University, spent nearly twenty years at the Federal Reserve—serving as its Chairperson for five years—helping manage the nation's money supply, and was on President Clinton's Council of Economic Advisers.
"I mean, how can gasoline prices be rising when the President has decreed the nation must transition to green energy?" the Secretary wondered. "If the government is in the process of making fossil fuels illegal and obsolete why aren't gasoline prices collapsing like the prices of other obsolete energy sources like whale oil collapsed? The only credible explanation is price-gouging by the greedy manufacturers."
"Clearly, we need to bring back the price controls that worked in the 1970s under Nixon, Ford, and Carter," she asserted. "This policy was so successful it was dubbed 'stagflation' because it stagnated the inflation. The whole country was unified behind a comprehensive system that brought Republicans and Democrats together in a common goal to whip inflation. The long lines to purchase gas were a much more effective means of encouraging conservation because time is more valuable than money. It was reluctance to pay the high time cost of obtaining fuel that broke the back of inflation then and could do it again today, 50 years later."
"Of course, the real wild card is the possibility of nuclear war between Russia and us over the Ukraine situation," Yellen observed. "On the one hand, hundreds of millions of people would die and the entire industrial foundations of modern life would be destroyed. On the other hand, a return to a pre-civilized mode of living would force us to reevaluate our materialistic habits and live more naturally constantly on the brink of starvation. The ills of a sedentary life style—obesity, diabetes, heart disease—would fade away, as would the burdens of caring for the elderly. We might actually be better off in the long run if this did happen."
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And SCOTUS doesn’t know what a woman is.
Affirmative Action hires. They just don’t get much dumber.
She understands that her actions are causing it.
Why don’t the idiot’s step down if they are unqualified. I know, stupid question.
Janet Yellen has her PHD in Economics from Yale, her husband has a PHD in Economics from MIT, we have a husband and wife with PHDs in Economics who know nothing about Economics, both have contributed to the destruction of the economy despite being highly educated in economics.
Talk about the Peter Principal.
Almost all of these women libbers who stupid men give authority, have no idea what the hell they’re doing and couldn’t care less. Their objective it to supplant men. That is all.
Women are basically void of accountability and reason.
Today’s men, like Adam, just stupidly go along with the female rebellion, like Eve, to the destruction of society.
Arithmetic is HARD, doncha know. It is so - linear. No room for nuance or multiple interpretations, just keep grinding out the same answers over and over.
“What gets us into trouble is not what we don’t know.
It’s what we know for sure that just ain’t so.”
Kid it goes like this ...
I fill up my gas tank you pay for it ...
Every time ... till Jan 2025 ...
Do you understand that ???
“How can gasoline prices be rising when the president has decreed that we must transition to Green energy?”
God save us. A PhD economist asks the most inane question of 2022.
They're better equipped to keep Joe from smelling their hair.
So she doesn’t see a connection between inflation and FED/Biden policies? We live in a Kakistocracy.
When Universities declare men women and women men, when supreme courts of states like California declare a bee to be a type of fish, when “Scientists” hide the decline to keep the global warming grants coming, why not deny the facts of inflation - that uncontrolled spend-and-print leftist socialist doctrine has killed the economy of EVERY nation that tried it?
Reminds me of NYC mayor Abe Beame. Having been the City controller for the four years (70-73) prior to his mayoralty as well as a previous stint at that position (62-65), when confronted with the city’s impending bankruptcy this doozy bots claimed that he could never understand the city’s books.
I just don’t know.
You (you’re good) and “The Bee,” posts articles of satire, and then those articles come true.
See Germany circa 1922-23.
Or,just continue to play stupid and hold on to your job?
Poor Janet everything flies right over her head
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