tyw
mornin wakers
mornin gb
Milton Friedman’s Revenge
Column: The specter of inflation haunts Joe Biden’s presidency
https://freebeacon.com/columns/milton-friedmans-revenge/?utm_source=actengage&utm_campaign=FreedomMail&utm_medium=email
Treasury Secretary Janet Yellen got into trouble Tuesday for telling the truth. That morning, at a conference sponsored by the Atlantic, she raised the possibility that one day the Federal Reserve may raise interest rates "to make sure our economy doesn't overheat."
Anyone with a basic understanding of economics knew what she was talking about. The combination of President Joe Biden's gargantuan spending and the accelerating economic recovery may well lead to a rise in consumer prices and hikes in interest rates. But an end to the Federal Reserve's program of easy money would hurt asset prices and possibly employment as well.
Which is not what most investors want to hear. When Yellen's words reached Wall Street, the market tanked. By the afternoon she was in retreat, telling the Wall Street Journal CEO summit that she had been misunderstood. "So let me be clear," she said. "That’s not something I'm predicting or recommending."
No, of course not. But it still might happen anyway.
A specter is haunting the Biden administration—the specter of inflation. Past inflations have not only harmed consumers, savers, and people on fixed incomes. They have also brought down politicians. Among the risks to the Democratic congressional majority is a rise in prices that lifts inflation to near the top of voters' concerns, coupled by the type of Fed rate increase that hits stocks and housing. Inflation is one more signpost on the road to Republican revival, along with illegal immigration, crime, and semi-closed public schools embracing far-left critical race theory.
The classic definition of inflation is too much money chasing too few goods. That might also describe America sometime soon—if not already. The economy has started its post-virus comeback. Jobs and growth are on the upswing. U.S. households sit on a trillion-dollar pile of savings. Over the last year, on top of its regular spending, the federal government has appropriated a mind-boggling amount of money: a $2 trillion CARES Act, a $900 billion COVID-19 relief bill, and a $2 trillion American Rescue Plan. And President Biden wants to spend about $4 trillion more.
Surging this incredible amount of cash into an economy that is rapidly approaching capacity may have unintended and harmful consequences. But the Biden administration is either unconcerned about inflation or afraid of bringing it up in public.
Why? Well, one reason is that earlier warnings, after the global financial crisis in particular, didn't seem to come true. (The inflation may have shown up in the dramatic ascent in prices of stocks and bonds, as well as in odd places such as the market for high-end art.) Another reason is that some economists think a little bit of inflation would be a good thing. But the main explanation may be related to status-quo bias: Inflation hasn't been a driving force in our economic and public life for decades, and so we blithely assume it won't be in the future.
Which is why an experienced leader worries about repeating the mistakes of the past. And yet, for a politician who came to Washington in 1973, Joe Biden has a lackadaisical attitude toward inflationary fiscal and monetary policy. Was he paying attention? It was the great inflation of the '60s and '70s, caused in part by high spending, the Arab oil embargo, and spiraling wages and prices in a heavily regulated and unionized economy, that helped ruin the presidencies of Gerald Ford and Jimmy Carter.
Inflation led to bracket creep, with voters propelled into higher income tax brackets by monetary forces over which they had no control. And bracket creep inspired the tax revolt, supply-side economics, and the Reaganite idea that, "In this present crisis, government is not the solution to our problem; government is the problem." The eventual cure for inflation was the painful "shock therapy" administered by Federal Reserve chairman Paul Volcker and what at the time was the worst recession since the Great Depression.
Why anyone would want to repeat this experiment in the dismal science is a mystery. Biden, however, is fixated not on inflation but on repudiating the legacy of the man known for describing it as "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."
had to get airborne n sheitz
https://mobile.twitter.com/BarnettforAZ/status/1390661665373376512
Run @katiehobbs
Run when she’s asked real questions...
Why haven’t the routers & passwords been handed over? (I know)
Why are you fighting against the forensic audit so hard?
Better start coming clean. Treason is a real thing. Same goes for anyone else involved that has info
Jobs Disaster – Biden’s Economic Sugar High Melts – He Won’t Be Able To Buy Votes With Printed Trillions
Illegitimate Joe’s banana republic sugar high melted this morning, as jobs created in April came in at 266k, well short of the almost 1 million forecast as the pandemic allegedly eases under mass vaccination.
A funny thing happened…apparently if you pay people to sit home the economy doesn’t grow, jobs are not created.
People want jobs. Women want jobs. Blacks want jobs. Hispanics want jobs. Youth want jobs. Minorities want jobs.
The people are not getting jobs. They’re getting a measly check from their Dark Lord Farquaad, who sits in The White House as a usurper of a legitimate mandate. Nothing more than a thief.
Biden is destroying the Trump economic miracle. OBiden is going back to ‘what are you going to do, wave a magic want to get all those jobs back?’ It seems OBiden wants to wave a magic wand to send all those jobs back overseas where they came from.
The truth is OBiden won’t be able to buy votes after all with his printed trillions of dollars.
But if your goal is the economic destruction of the republic, then maybe it just doesn’t matter to the Dark Lord.
However, I can guaranteed you it matter to Shrek and the Deplorables.
Expect more QE, or what they call it in Argentina — printing money
To summarize: there was not nearly enough jobs as employers can’t find workers who opt for government stimulus instead; and the poor jobs number ensures that even more stimulus will be handed out, ad inf, reported Zero Hedge.
A Red tsunami is coming.
https://creativedestructionmedia.com/news/markets/2021/05/07/jobs-disaster-bidens-economic-sugar-high-melts-he-wont-be-able-to-buy-votes-with-printed-trillions/
NTD on a roll
https://t.me/s/NTDNews
Don't forget mother's day Sunday
45 on dropping of FEC Stormy case and MI vote fraud
https://t.me/s/real_DonaldJTrump
The World Economic Forum recently ran a Livestream with Interpol, Cloudflare, and a cybersecurity firm to discuss the upcoming cyber pandemic agenda, which many believe will be their next step to justify creating a Digital Citizenship to be able to even use the internet. Cloudflare’s COO who is advises on digital identity/citizenship for internet users. You want to associate everything you do on the Internet with a digital ID. Here is Cloudfare’s COO Michelle Zatlyn casually talking about 100% security which will be used to block anyone in this cancel culture that they disagree with.
This is the problem with the left. They always need to control everyone else to make the world the way they see it. There is never any respect for human rights. They reject the very idea of the United States Constitution or the Declaration of Independence – that we were all created equal. This road they always go down has been attempted so many times. Lenin ignored culture and humanity and tried to make everyone the same. It was humanity itself that he waged war against. These people are doing the very same thing. To them, we must all be controlled.
Read full story here…
https://www.technocracy.news/great-reset-digital-citizenship-required-to-use-internet/
https://twitter.com/LouDobbs/status/1390635899587862531
Hans von Spakovsky: Voter suppression? Dems flat-out wrong. Census data gives real story about US elections https://foxnews.com/opinion/voter-suppression-dems-wrong-census-elections-hans-von-spakovsky #FoxNews
Instead, the Census Bureau reports that the turnout in last year’s election was 66.8% – just short of the record turnout of 67.7% of voting-age citizens for the 1992 election. It beat the turnout in President Obama’s first election, which was reported as 63.6% by the bureau.
Kamala Harris made that false claim about "voter suppression" in September last year when she was running for office. Yet the Census survey shows that there was higher turnout among all races in 2020 when compared to the 2016 election. Black Americans turned out at 63%, compared to 60% in 2016.
May 7
Gen Mc
https://t.me/s/GeneralMcInerney
The Real Gen Flynn
https://t.me/s/RealGenFlynn
Join me here or on Clouthub @GenFlynn
https://t.me/CodeMonkeyZ/165 see the vid here
May 7
CM lays out Maricopa glitch that will see them face treason charges
The Bee: Study Finds Connection Between Believing Russia Rigged 2016 Election And Believing 2020 Election Was Foolproof
https://twitter.com/MZHemingway/status/1390490055127539715
Fascinating thread
https://twitter.com/TrumpJew2/status/1390473213503807489
Nota Shortstack
#161
>>51511, >>51518, >>51521, >>51524, >>51527, >>51534, >>51545, >>51560 friday planefaggory
>>51570 New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud
>>51565 Mollie found a fascinating thread
>>51564 The Bee: Study Finds Connection Between Believing Russia Rigged 2016 Election And Believing 2020 Election Was Foolproof
>>51563 May 7 CM lays out Maricopa glitch that will see them face treason charges
>>51562 Pelosi says 'disappointing' jobs report calls for more government spending
>>51561 The Real Gen Flynn
>>51559 May 7 Gen McInerney
>>51558 BLM Founder Patrisse Cullors Says It’s “Really Cool” People Compare Her to Chinese Communist Mass Murderer Mao Tse Tung (VIDEO)
>>51556 Of Census and vote counts
>>51555, >>51557 AZ Audit Director Ken Bennett: Dominion Refuses to Comply with Subpoena and Turn Over Password
>>51554 The World Economic Forum on creating a Digital Citizenship
>>51553 dropping on Stormy case and MI vote fraud
>>51552 Kashkari Slams Fed Critics, Pretends Stimulus Isn't Helping Wall Street
>>51551 DON'T FORGET MOTHER'S DAY
>>51550 NDT on a roll Taiwan supported, GMO mosquitos, FEC drops Stormy case, Pfizer wants full approval
>>51532 NEWS from Maria Zack & General Tom McInerney
>>51531 Why are you fighting against the forensic audit so hard? Treason is a real thing.
>>51525 The novel coronavirus’ spike protein plays key role in illness
>>51523 Atlanta Mayor Keisha Lance Bottoms Will Not Seek Reelection
>>51517 Patriot hijacks his J&J covid vaccine. walks out with it. "taking it to a lab to get it tested!"
>>51513, >>51533 Shocking Miss: The U.S. Economy Added Just 266,000 Jobs in April, Unemployment Ticks Up
>>51509 market watch: Nasdaq Explodes Higher, Gold Gains, Dollar & Bond Yields Crash After Dismal Jobs Data
>>51504 Unhinged Beta Male Harasses Pregnant Woman at Grocery Store for Not Wearing a Mask (VIDEO)
>>51503 After Only a Few Days in Jail, HUNTER BIDEN’S PIMP Was Suddenly and Mysteriously Released to a Treatment Center Rather Than Serving Years in Prison
#161
czech em
lemme know