Posted on 11/24/2021 8:54:36 AM PST by Oldeconomybuyer
… “Because of the strength of our economic recovery, American families have been able to buy more products,” Biden said this month at the Port of Baltimore. “And — but guess what? They’re not going out to dinner and lunch and going to the local bars because of COVID. So what are they doing? They’re staying home, they’re ordering online, and they’re buying product.”
That view is the closest thing the administration has offered to an explanation for why the White House was surprised by the size and durability of a price surge that has hurt Biden’s poll numbers and imperiled part of his economic agenda in Congress. From the administration’s perspective, the problem is not that there is too much money sloshing around, as Republicans and some economists insist, but that consumers are throwing an unexpectedly large amount of that money at a narrow set of things to buy.
Put another way: If Biden had sent people travel vouchers or DoorDash gift cards for services — instead of sending Americans direct payments as part of his rescue plan in March — the inflation picture might look different right now.
Inflation has risen across wealthy nations over the past year, but it has risen faster in the United States, where prices rose 6.2% in October from the year before. America’s inflation has been exacerbated, in part, by Biden and his predecessor, Donald Trump, pouring more fiscal support into the U.S. economy than their counterparts did elsewhere, at a time when consumption patterns shifted and did not rapidly snap back to normal.
Republicans, and even some left-leaning economists such as former Obama administration officials Larry Summers and Jason Furman, have blamed the rapid price increases across the economy on the aid package that Biden signed in the spring.
(Excerpt) Read more at news.yahoo.com ...
It’s planned this way sadly, not just idiot folks..
It’s not a bug, it’s a feature.
Worst of all, Biden comes across as not giving a damn about the American people. Worst than that, he and his administration are giving the American people the middle finger. And they are lying while they do it.
...that consumers are throwing an unexpectedly large amount of that money at a narrow set of things to buy.
Not accepting that argument as the government’s ‘official’ consumer inflation numbers are deliberately designed to minimize the total inflation reported. It’s a scam that has been going on for a very long time.
The plan is to exterminate legacy US citizens.
Biden has been warning us of a Dark Winter for years now.
https://www.politico.com/news/2020/10/22/biden-dark-winter-america-431399
Everything he is doing is making the supply chain problems worse.
There will be Americans starving by spring.
There...fixed.
That must be why shelves are always bare in the Soviet Union.
It's not a feature, it's an option.
Reading the New York Slimes is a way to get really stupid really fast!
Ya. A person cannot be that evil. After all when they are always preaching about how the care. Truth is they don’t care. It is all about power.
You can just shutdown the economy in major states and furlough workers and expect to spin-up the economy in a short period of time — especially when the administration is threatening all kinds of additional Covid-related mayhem on the workforce.
Yes, that’s it! That’s the whole problem with the “Biden” administration!
It’s a math error!
It will certainly destroy America. Because it is the “legacy” that made America great. The can-do attitude especially when the odds are stacked against us. It is “the people” who work hard, really hard, that make America great. And with hard work comes great reward. Take away the reward and you have nothing. A society of sheep who can't or won't think for themselves.
Who knows. Maybe we need a good swift kick in the ass. Lets hope that while we are getting our asses kicked that we are persistent and determined to survive.
Don’t blame Biden. Don’t blame the left. Don’t blame the right. The blame goes squarely on the Media. If the MSM did the job they were supposed to do, politicians wouldn’t be able to get away with this crap.
I wonder how well the MSM are doing these days for believability. They have been caught lying and lying and lying and people are catching on... I hope.
Examples: Russian Collusion, Rittenhouse, the economy, energy. Average folks may not be paying attention when times are good but they certainly become more involved and interested when it hurts them directly.
“His ideology is more important. “
His ideology IS the reduction of the USA to the global baseline. The inflation, energy shortages and poverty creation is -deliberate-.
Definitely a globalist who doesn’t give a poop about Americans. I hope that American voters are paying attention.
People need to stop fearing inflation and move on just like many have moved on from allowing COVID to run their lives.
Meanwhile, despite Biden:
“Weekly jobless claims post stunning decline to 199,000, the lowest level since 1969.”
“There will be Americans starving by spring.”
Oh brother, just shoot yourself now and miss the rush.
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