Janet Yellen blames Americans' 'splurging' for record-high inflation.

Fox News ^ | 12/1/2022 | Kristine Parks & Nikolas Lanum

[Carriage Hill]

Treasury Secretary Janet Yellen blamed consumers' excessive spending habits as a primary cause for the near 40-year-high in inflation on Wednesday. The Biden official appeared on "The Late Show with Stephen Colbert" where she was asked about the price increases that have plagued the U.S. for more than a year.

[stanne]

“Yellen is an idiot.”

She’s a propagandist

[Carriage Hill]

✔

[Red Badger]

If we ‘splurge’ any more we’ll starve to death...............

[NorthMountain]

We need a French-style revolution

BurnLootMurder and Antifa can help you out with that.

[DarthVader]

With the guillotine too!

[SaxxonWoods]

Yellen has her horse and cart backwards and is spewing garbage to cover her clique.

[mrmeyer]

They create a new feudalism and it’s a guarantee.

[HIDEK6]

Really? Blaming the victim?

[Carriage Hill]

LOL.

[Spok]

To avoid inflation, you’re not supposed to buy stuff. We can only keep prices down by quietly starving in the cold and dark. These people are brilliant!

[Harmless Teddy Bear]

We are actually buying less then we were a year ago.

So is everyone we know.

Anything we are buying are things that are needed.

Food and fuel being primary but also shoes for the kids, they will grow you know, and replacements for things that have worn out, like the hot water heater.

Does this offspring of a female dog think that this is 'splurging'?

[KarlInOhio]

Since inflation is a monetary phenomenon, the only splurging is by the Treasury and Federal Reserve on green ink and paper (or their electronic equivalent).

[mware]

I suppose filling up my fuel tank for winter is “ splurging” too. That cost me $1700. Last year it was $1000.

[sasquatch]

She (it or whatever) would never pass a Binet test.
Don’t think any of the present cabinet has signed the front of a pay check.

[blackdog]

Yes. I read somewhere the cabinet has a combined total of eight months of private sector work experience.

[TomGuy]

I splurged at the grocery store this morning.

$91 of splurging.

I typically do grocery shopping about ever 10-12 days. My trips used to be in the $50 to $60 range.

I may have to switch from my splurges of cat food and try dog food — it may be cheaper. And I don’t even have a pet.

[blackdog]

Dunning-Kruger bunch on steroids and a blank checkbook.

[ProtectOurFreedom]

God, she is a complete idiot. Inflation is caused by too much money in the economy, or as economist Milton Friedman argued:

Inflation is always and everywhere a monetary phenomenon

Economist David Henderson explains what Friedman meant:

Monetary economist Milton Friedman made this line famous after stating it in a talk he gave in India in 1963. In a trivial sense, of course, the statement is true. Inflation, by definition, means that money loses its purchasing power and, therefore, is a monetary phenomenon. But Friedman meant much more. After having defined inflation, in that same talk, as a “steady and sustained rise in prices,” Friedman argued that one could not find inflation anywhere in the world that was not caused by a prior increase in the supply of money or in the growth rate of the supply of money.

It is NEVER and never will be caused by consumers spending "too much."

[blackdog]

Hey, at least she just admitted why they should never pass a student loan debt relief plan. Splurgeous Maximus.

[NEWwoman]

This is right out of the medieval consumption laws that curbed the peasants from buying stuff, especially luxuries, that were only reserved for the nobs.