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
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.