Posted on 05/31/2022 8:32:35 PM PDT by bitt
President Biden has finally laid out his plan to fight inflation. But the strategy demonstrates what many have long suspected: He doesn’t have a clue what to do about rising prices.
Biden’s plan, revealed in an op-ed for the Wall Street Journal, has three parts. First, let the Federal Reserve do its job. Second, enact a series of micro reforms to bring down prices in discrete economic segments, such as housing, prescription drugs and freight transport. Third, bring down the federal deficit by raising taxes on corporations and the rich.
That’s it. That’s the plan.
Each part is either disingenuous or will be ineffective. His stance on the Federal Reserve, for example, is basically an acknowledgement that the president does not legally, and ought not morally, dictate monetary policy. Central bank independence is a touchstone of modern monetary policy lest politicians be tempted to turn on the money spigots to juice the economy before an election year. When Biden criticizes his unnamed predecessors for trying to improperly influence Fed decisions, he’s saying that controlling monetary policy is outside of his control. That might be correct, but it’s not a presidential plan to fight inflation.
The second part of Biden’s plan is a tacit recognition that it’s a bad political look for the president to stand aside on the issue dominating voter consciousness five months before the midterms. Thus, he proposes a set of actions — all of which, mind you, would require congressional approval — to reduce prices. Sounds good, until you look at the specifics.
(Excerpt) Read more at washingtonpost.com ...
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Just stop at the end of the phrase “Doesn’t have a Clue”.
Maybe he can get Hunter to buy one.
The headline would be all encompassingly accurate if it just said: “He doesn’t have a clue”
The economic collapse is 100% the cause.
Just his signature on what his handlers want.
Yep. Gmta
Mm hmm. The sun will rise in the east tomorrow.
Cut regulation that inhibits production like bogus COVID rules, and stop printing funny money. Stop paying people not to work. Stop paying hospitals to pretend scraped knees are COVID (which enables further production killing rules and free money giveaways). In other words, stop being a Democrat.
Das Counterpunch is mad about Henry Olsen.
The WP?
I need to wait till sunrise to see if the sky is blue on the planet I live on.
About the author of that screed:
“Michael Schwalbe is professor emeritus of sociology at North Carolina State University.”
In otherwords, everything he says about Olsen is commie BS.
When you have lost the compost...
Clueless Joe is another name that fits him.
I guess I just assumed he was a Commie, since he was writing for CounterPunch. 
Thanks for doing that. Every little smackdown of Red Diaper babies helps.
Inflation is our companion for at least the next 18 mos, and longer if McCarthy loses his spine.
Most things above the level of consuming breakfast cereal are beyond him these days.
CC
That is to imply he has a spine to begin with. That remains to be seen.
CC
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