The Conservative Cave
Current Events => General Discussion => Topic started by: Mr Mannn on November 11, 2021, 03:53:53 PM
-
https://welovetrump.com/2021/11/11/biden-blames-inflation-on-americans-having-more-money/?utm_source=PTN&utm_medium=mixed&utm_campaign=PTN
Biden Blames Inflation on Americans Having More Money
Joe Biden has finally taken responsibility for the horrible inflation plaguing the country.
Well, sort of…
Biden said that part of the reasoning behind inflation is that Americans “have more money.”
You see, it’s not Joe Biden’s fault really.. It’s OUR fault for apparently having money…
Biden was of course referencing his Administration’s COVID-19 stimulus checks.
On Wednesday, while discussing the global supply chain crisis, Biden finally conceded that inflation is a problem.
He also conceded that his $1.9 trillion COVID-19 stimulus was to blame:
“And the irony is: People have more money now because of the first major piece of legislation I passed.”
so because Democrats delayed the stimulus check until January, Americans destroyed our own economy. $1400 at a time.
Yeah, right.
-
Well, I hate to point this out but he's not entirely wrong.
The flood/influx of money into the overall money supply (a basic tenet of economics) in the form of the so-called "Covid stimulus" payments did its job. It flooded the economy with printed money that we couldn't afford.
Thanks, Fed. :whatever:
It also stimulated Economics 101 in determining that if you have a helluva lot more money in the money supply that isn't supported by economic development that's going to result in:
- Money being worth less than it used to be.
Ergo, now those who used to have $500 in their pockets still have $500 in their pockets. But that $500 only buys $400 worth of goods and services now.
Covid did a lot more than just keep kids out of school. It did a magnificent job -- aided by the politicians and media -- in helping to destroy our economy.
-
Cute try, dumbass. [#JoeTheFraud, not you, Euph.] Maybe next time run your statements thru the economic genius AOC for vetting???
Inflation is EXCLUSIVELY a product of Gub'mint ham-handed policy making, and of no other source, shit-for-brains.