• Joe Biden doesn't want Americans to understand the real root cause of i

    From Johnny@21:1/5 to All on Sat Jun 4 09:26:19 2022
    By Larry Kudlow
    Published 15 hours ago

    So, Joe Biden was out this morning in all his splendor, talking about
    the May jobs report and many other things.

    I don't know if folks remember the great moment in the1980 presidential
    debate between Ronald Reagan and Jimmy Carter. Carter was like a little ankle-biting puppy dog. He kept swiping away at Reagan with falsehoods, whereupon finally The Gipper turned to him and said, "There you go
    again." The crowd roared. The debate was won and the rest, as they say,
    was history. Good history, I might add.

    Today, we're making bad history. Today, Joe Biden had this absolutely
    fantastic line talking about inflation and how we have to understand
    the root of the problem. Take a listen.

    PRESIDENT BIDEN: It’s important that we understand the root of the
    problem so we can take steps to solve it. I've been upfront with the
    American people from the outset that there would be a cost here at home
    of Putin’s decision to brutally and savagely invade a sovereign nation.

    What's so wonderful about this is that Mr. Biden and his team are
    engaged in a full-bore campaign to hide the real cause of inflation.


    If Putin is really the problem, then why is our inflation so much
    higher than the inflation rates of the other OECD big economies?

    A recent study from the San Francisco Fed entitled "Why is U.S.
    inflation higher than in other countries?" shows that core U.S. CPI
    inflation is running about 5%, while the rest of the OECD is running
    about 2%.

    Of course, there's never any mention of his $2 trillion emergency
    spending plan that provided the inflationary liftoff in the first place
    — like jamming even more demand into the Trump V-shaped recovery that
    was already strong and at the same time, the Bidens put the clamps on
    the fossil fuel industry and other anti-business policies that
    restricted the supply of goods and services.

    So, in ordinary terms, Biden's woke economic policies boosted demand
    and shackled supply.

    The result: higher inflation. This happened a year before Vladimir
    Putin was massing troops on the Ukraine border and in the year before
    Putin, inflation took off, as did gasoline prices, food prices and
    virtually every other price.


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