W.H. Economic Adviser Bernstein: Europe’s Inflation, Which Isn’t as High as Ours, Shows Spending Isn’t to Blame for Inflation

Breitbart ^ | 05/05/2022 | Ian hatchett

[ChicagoConservative27]

On Thursday’s broadcast of CNN’s “New Day,” White House Council of Economic Advisers member Jared Bernstein argued that inflation numbers in Europe, which are “not quite as high as ours,” undercut the argument that “somehow U.S. spending was responsible” for inflation.

Co-host Brianna Keilar asked, “We’re looking at some of the numbers here of the increase in costs for certain items, items that people cannot avoid purchasing. Was Joe Manchin right about the impact of spending under this administration on inflation?”

[ChicagoConservative27]

This is idiot related to the Bernstein from Watergate?

[Nifster]

What a complete idiot

[Travis McGee]

[backwoods-engineer]

So, to analogize what this idiot is saying: Johnny isn't as sick as Jimmy, so that proves that Johnny's behavior does not cause them to be sick?

This is complete blithering nonsense. ALL government spending in a fiat currency has inflationary results, eventually. All of Keynesian economics is based on that.

[Leaning Right]

I’m actually surprised that Bernstein didn’t blame our inflation on climate change. Bernstein had better get with the program. Everything bad is caused by climate change.

If you don’t believe me, just ask Greta Thunberg. She’ll set ya straight.

[Flavious_Maximus]

Wish we were at number 5. /spit

[Leaning Right]

Nice touch putting in a Silver Certificate in that picture. Kids today would have no idea what they were all about. But I sure do remember them.

[Maceman]

Proving once again that there is no such thing as a Democrat who knows anything about economics.

[buridan]

Our spending may be partly to blame for their inflation.

[eyeamok]

Born Stupid, Takes a lot of Drugs went to Public School... Do all these fools get hired from Skid Row?

[simpson96]

Kind of like someone telling you,

"There is a brushfire a hundred yards from your home - but don't be concerned. I mean, it's not as if it was ninety yards away."

[hanamizu]

Nice touch putting in a Silver Certificate in that picture. Kids today would have no idea what they were all about. But I sure do remember them.

---

I used to show my jr high students Silver Certificates. Told them to read what the certificate actually said. Then I’d show them a pre-60s FRN that declared that it was redeemable in ‘lawful’ money at any Federal Reserve Bank. I’d then tell them that ‘lawful money’ was silver or paper redeemable in silver.

Then I’d show them pre-65 quarters and halves and explain how, back then, nearly all of their value was based on the silver they were made from. Interestingly, a quarter (silver) could buy a gallon of gas. A silver quarter’s value today, $4.07, can buy a gallon of gas. Funny how that works...

[cymbeline]

“Our spending “

Spending is impossible if you don’t have the money to spend. Money to spend has been put into the economy by government by creating it out of thin air (by lending it, because theoretically those receiving the money have to pay it back).

The huge increase in the money supply devalues the money, which is inflation. Thus money creation comes before spending.

So spending is not the cause.

[cranked]

The type crack being smoked in the White House must be the bomb. Bet.