Biden’s consigliere:
Larry Summers reclining on a tropical island and instructing the proles that "there's going to need to be increases in unemployment to contain inflation" ☠️pic.twitter.com/t1ONYePsUZ
— David Adler (@davidrkadler) January 6, 2023
Nice guy!
Larry Summers is a liar or a moron or both. Ever-increasing unemployment and increasing Fed interest rates will not stop inflation, since nothing is being done to improve the supply of goods and services. Chronic shortages will sustain chronic inflation.
ReplyDeleteShortages and inflation feed each other. When average people cannot afford to pay $24.00 for a dozen eggs, the producers of eggs will have to reduce their operations. This will further worsen shortages, and further worsen inflation.
Summers doesn’t care. He is comfortable. It is not enough for him to enjoy his little paradise. He has to compulsively crow about how the peasants will suffer.
Well that all may be but heres Biden: “Stay the course!”
ReplyDeleteDemocrats, establishment Republicans, and fake "conservative" pundits all resist change. They all scream when someone tries to improve things. They physically assault that someone on the floor of the US Congress.
ReplyDeleteCaptain Brandon of the USS Titanic is staying the course...
ReplyDeleteEver-increasing unemployment and increasing Fed interest rates will not stop inflation, since nothing is being done to improve the supply of goods and services.
ReplyDeleteInterest rates work on the demand side.
They said that food inflation could not be corrected with higher interest rates because food demand is inelastic. It isn't. People are skipping meals.
Remember the Maduro Diet? Someone wrote a book about it.
The Maduro Diet: How three-quarters of adults in Venezuela lost an average of 43 pounds in two years Paperback
Yo they have increased rates and are reporting that inflation is coming down… it’s apparently working…
ReplyDeleteThat’s why Biden people telling Fed to stay the course…