Posted on 02/09/2021 6:02:23 AM PST by Red Badger
Economists are warning that Joe Biden’s policies may cause double-digit inflation, unseen since the late 1970s.
“Unfortunately, the Biden administration may be about to repeat the same mistakes as Jimmy Carter, only this time it will be far worse,” Kevin Freeman, financial terrorism expert at the Center for Security Policy said. “In the four years of Jimmy Carter, the annual inflation rate rose from 5.7 percent before he took office, to 13.5 percent when he left.”
Economists said Biden’s crackdown on U.S. oil production would drive up gas prices at the pump and hurt U.S. consumers, while benefiting Iran and Russia. They also warned Biden’s $1.9 trillion stimulus plan would devalue the U.S. dollar, making consumer prices higher.
“President Trump slashed regulation, but Biden promises to increase it,” Freeman stated. “So a 30 percent increase in regulation, which is something we can expect, would add 2 percent to the inflation rate just by itself.”
President Trump showed how to lower unemployment and increase wages – by cutting wasteful regulations, letting taxpayers keep more of their money, and promoting U.S. energy.
Biden wants to increase regulations, raise taxes, & attack energy. The result will be a weaker economy.
— Ronna McDaniel (@GOPChairwoman) February 5, 2021
However, Biden Cabinet officials are downplaying such warnings as they seek near-term political gain from money handouts at the expense of taxpayers.
The Great Reset is in progress and going as planned.
It's not just "at the pump," but in the price of every commodity that you buy. Energy is vital to everything.
Remember Alinsky’s #5 rule:
5. Welfare – Take control of every aspect of their lives (Food, Housing, and Income).
Fifty dollars for a loaf of bread - if you can find some.
Not possible. To much legal immigration to much excess labor supply. Unions no longer have the power to push up wages anymore. Inflation is not possible except in a few areas of the economy.
“It’s not just “at the pump,” but in the price of every commodity that you buy. Energy is vital to everything.”
This.
Even the Red Chinese widgets you buy at Walmart will cost more. Energy.
I never would have have voted for him if his policies weren’t expected to cause these problems! /s
Biden is not making “mistakes”. His actions are purposeful with evil intent. Consider the following quotes from Lenin:
1) The way to crush the bourgeoisie is to grind them between the millstones of high taxation and inflation. - Vladimir Lenin
2)The best way to destroy the capitalist system is to debauch the currency. - Vladimir Lenin
Biden and the Commie Rats are just setting things up to wreck the economy to make us ripe to submit to communism. . . evil. The sooner we forcefully resist, the better off we will be.
The Fed wants some inflation. They are still worried about deflation.
Negative interest rates around the world will continue to put downward pressure on interest rates, but higher inflation due to Fed policies, higher energy prices, vastly more regulations and taxes and massive deficit spending will give us inflation, all right.
And it could be a slippery slope.
In the old days the Feds would raise interest rates as a way to check inflation. Will that happen this time?
My Magic 8-Ball says “No”. A good portion of federal spending (Social Security payments, T-bill rates, etc.) is tied to the current interest rate. Rising rates would bust the budget - and the economy - even more than it’s already busted.
So get ready for unchecked inflation.
$15/hr. I’m for it as long as it’s up for a revote after 2022. Let the country know what their results are. Put a $2 tax/gallon on gas.
The demon rats will have their Cloward-Piven one way or another
80,000,000 voters DO NOT CARE
Biden & CO have a plan to mitigate inflation too, they just don’t mention it much since it involves slashing demand ...
With the passage of multiple trillion-dollar federal "stimulus" spending bills, the government is basically just printing money (like Venezuela, Zimbabwe, etc.). Inflation is not only likely, it's exactly what they want: it will essentially reduce the existing debt, while transforming the middle class into welfare recipients/government dependents...
Ronna McDaniel, you mean Romney? That f’n GOP made sure Biden was elected and now they are happy we are all going to be ruined so one of their scumicans can ride in and promise to save the day. We had a great POTUS who would have left us a great economy. I blame YOU Mizz Romney McSchmuckface liar.
ESAD GOP. I blame the GOP for Joe Biden. I will never vote for a scumican again. Had enough.
You’re describing the classical definition of inflation. It is rooted in real economic conditions. What’s being discussed here is “currency inflation” — driven entirely by an external manipulation of the purchasing power of the U.S. dollar.
Inflation is great for the federal budget.
Taxpayers move into higher brackets....revenue goes up.
Entitlement recipients lose eligibility...expenses go down.
I remember the stagflation years all too well: There is absolutely NO incentive for the Federal Government to try to control inflation. NONE.
Democrats love it when a plan comes together
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.