Perhaps the most idiotic thing to ever come out of the Biden administration - and there has been plenty to choose from - was the repeated lie that stimulus does not cause runaway inflation, but rather lowers it.
While Biden's handlers were generous enough to bribe supposedly smart people to repeat said lie to give it credibility, like for example the chief economist at JPMorgan who last March said that the $1.9 trillion Biden stimulus "Won't spark runaway inflation"....Why JPMorgan's Chief Economist Thinks The $1.9TN Biden Stimulus Won't Spark Runaway Inflation https://t.
The truth, of course, as Jeff Gundlach noted recently, is that an "Intelligent twelve year old" was able to predict that excessive stimulus causes inflation....Excessive stimulus caused inflation.
SecYellen on inflation being transitory: "I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy that I, at the time, didn't fully understand." https://t.
Yellen's concern about inflation "Is why she had sought without success to scale back the $1.9 trillion relief plan by a third early in 2021 before Congress passed the enormous program," wrote Ullmann, who had "Unfiltered access" to Yellen as he researched the book, according to publisher PublicAffairs.
"But given the choice between Biden's full $1.9 trillion package and less than $1 trillion that some in Congress preferred, Yellen believed going big was the better course."
Even more remarkable is that according to the biography, while Yellen pushed back against Biden's stimmies, but not really and endorsed them in public at every opportunity, Yellen was angered by Summers' attacks on the stimulus plan, "Even though she shared some of his worries." Yes, you read that right: Yellen disagreed with Biden, but she was more angry when someone else criticized his plan! This kind of cognitive dissonance of the highest order has to be a Democrat thing.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
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