Biden’s Inflation Solution: Print Another $3.5 Trillion
Biden and Harris are living large while working-class wages are being devalued.
The primary benefactor of the enemies of Liberty, billionaire leftist George Soros, said there were many opportunities created by the ChiCom Virus pandemic to implement socialist policies: “I would describe it as a revolutionary moment when the range of possibilities is much greater than in normal times. What is inconceivable in normal times becomes not only possible but actually happens. People are disoriented and scared.”
And his Biden/Harris regime puppets have used the pandemic to move the Left’s agenda forward at a lightning pace.
Here’s one example of how Joe Biden’s pandemic economic policies, informed by Soros’s advice, accelerate inflation: After losing his $15 minimum wage legislative mandate, Biden colluded with Demo governors across the nation to extend government unemployment payouts in order to entice workers to stay “unemployed” — despite the fact there are a record 9.3 million job openings nationwide.
Why? To force employers to raise wages in order to attract employees back to work. It is enormously difficult for small businesses, which employ most workers and have struggled to survive the disastrous pandemic shutdowns, to get back up to speed. The economic consequence of Biden’s ploy has been to suppress economic recovery and simultaneously inflate prices for all Americans. As former Obama/Biden Chief of Staff Rahm Emanuel declared: “You never want a serious crisis to go to waste. And what I mean by that [is] it’s an opportunity to do things that you think you could not do before.”
In June, the Consumer Price Index rose to an annual rate of 5.4%. Take out the volatile food and energy markets, and the annual increase is still 4.5%. The only good inflationary news is that the hyper-inflated price of lumber has now settled to its January level, and hyper-demand for building and other products may also subside.
The Biden inflation bomb has hit, and his administration has no plan or apparent desire to stop the inflation surge, other than printing more money. Oh, did I mention the national debt is also a ticking time bomb?
To that end, calling Biden’s massive $3.5 trillion boondoggle an “infrastructure” bill is like calling the Demos’ HR 1 bulk-mail ballot fraud strategy a “voter rights” bill — and the former will accelerate inflation. As Republican Senate Leader Mitch McConnell declared, “With inflation raging at the highest level in 40 years, the Democrat plan is wildly out of proportion with the need right now.”
As the nation’s most revered economist, Milton Friedman, wrote decades ago, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” In other words, “If money supply increases, there will be more money chasing the same goods, so prices will go up. Similarly, if the rate of growth for economic activity and the quantity of money is the same, prices should remain constant.”
Biden and company want the printing presses running full speed, and the result will be higher inflation for years.
Semper Vigilans Fortis Paratus et Fidelis
Pro Deo et Libertate — 1776
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