I've always said the now Marxist Left and have always been economic IDIOTS
I have taken a few courses in economics and not once have I read that high inflation is caused by demand being too slow.
Yet, here is Democrat Sen. Chris Coons, who claims that the inflation that Americans have been inflicted with has been caused because the economic recovery was too slow.
On Wednesday’s “CNN News Central,” Harris-Walz Campaign Co-Chair Sen. Chris Coons (D-DE) stated that inflation “resulted from our recovery” from the pandemic, a recovery that has been “slow and long and difficult” and the inflation isn’t the fault of 2024 Democratic presidential candidate Vice President Kamala Harris.
And then this genius, who believes that the inflation came about because people weren't buying enough with their shriveling salaries, guarantees us that Kamala, Biden, and Democrat policies aren't the cause of inflation.
I wonder why people don't trust them.
Biden and Harris turned on the government money presses and set out to destroy the oil industry through regulation, but somehow they aren't responsible for oil, gasoline, diesel and utilities prices spiking. These higher energy prices affect almost every visible thing we use, and of course, that's not including credit card bills and housing costs and health care and education costs, which saw even bigger inflationary spikes, based on the same root: the devaluation of the currency because the government printed too much money for all its big-spending programs.
They campaigned on opening the border and flooding the country with immigrants and on day one Biden started signing executive orders opening it up but somehow they aren't responsible for the knock on effects, such as rent prices and other prices rising because towns have been flooded with people in places with too little housing.
The Democrats, without any Republican votes, decided that they would pass the American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022 that essentially flooded the market with borrowed (printed) money. Not surprisingly, inflation rose. They have continually upped the subsidies for day care. Harris bragged that she was the deciding vote. But according to Coons, other Democrats, and most of the media Harris and other Democrats didn't have anything to do with the high inflation.
Biden has been issuing regulations as fast as he can since he took office but somehow these additional costs to businesses and individuals didn't have anything to do with rapidly rising prices.
The Inflation Reduction Act was essentially a green slush fund that inflated costs. It handed out kickbacks and subsidies. Again, it was passed by all Democrats with Kamala giving the final deciding vote.
Then they passed the Infrastructure Bill which some Republicans went along with. The bill, like all Democrat bills, requires adherence to racist prevailing wage laws which massively inflated costs of government projects. Democrat-run states also force these racist laws on their residents. These laws have been in existence for over 90 years and have oppressed minorities and taxpayers.
The media and other Democrats say we have to get rid of everything racist so why do they keep forcing businesses and individuals to adhere to these laws which were racist in intent.
This was written in 1993:
Cato Institute Briefing Paper No. 17: The Davis-Bacon Act: Let's Bring Jim Crow to an EndThe Davis-Bacon Act, which requires that federal construction contractors pay their workers "prevailing wages," was passed by Congress in 1931 with the intent of favoring white workers who belonged to white-only unions over nonunionized black workers. The act continues to have discriminatory effects today by favoring disproportionately white, skilled and unionized construction workers over disproportionately black, unskilled and non-unionized construction workers. Because Davis-Bacon was passed with discriminatory intent and continues to have discriminatory effects, its enforcement violates the Constitution's guarantee of equal protection of the law.
Democrats have a history of making things more expensive with government intervention. Their solution is always a bigger government with more taxes and more regulations.
Obama and the Democrats continually lied that Obamacare (misnamed the Affordable Care Act) would reduce costs when the requirement to cover everything was obviously going to inflate costs. As a result of Obamacare, prices have skyrocketed and yet we are still lied to that the law makes health care more affordable.
College costs have soared since the 1960s when the government started throwing money at them.
As colleges took advantage by massively increasing costs, the government kept throwing money at them and now Biden dictatorially and unconstitutionally forces taxpayers to pay off the debts to buy votes. They wouldn't want colleges to control their costs. After all, college professors and administrators almost universally vote Democrat and they indoctrinate kids that Democrats are wonderful.
To deflect blame from the inflation they caused, they always accuse the private sector of gouging.
Isn't it amazing that when Trump was in office, somehow inflation was low throughout his term and he was pro-business.
They never blame colleges or big government for gouging. No matter how high the fees and taxes are. Government is never chastised for junk fees.
Nope, they blame oil companies, gas stations, chicken processors, and low-margin grocery stores instead of extremely high margin companies like Microsoft, Google, and Facebook. They are special. After all, they pretend they support the green initiative while their carbon footprint soars.
As for oil. The price of crude oil hit $35 per barrel in 1980. In 2020, after 40 years and four years of Trump the price of oil was still below $40 or up less than 15% while general inflation had quadrupled. There was almost nothing that went up less than oil and then in one year after Biden was elected the price had doubled to over $80 which is still up much less than overall inflation since 1980.
Then they suggest things like rent control to lower inflation. There is nothing more stupid than proposing something that would further restrict supply when the supply is so tight already.
Just think, the people who have zero knowledge of how the economy works and what causes inflation tells the public they can control temperatures, sea levels, and storm activity if we just capitulate to the radical green pushers.
And most of the media cheers about how great Democrat policies are and claims they should be reelected to bring prices under control.
Voters should have their heads examined if they live this garbage and contribute to the U.S. suicide by reelecting these people.
https://www.americanthinker.com/blog/2024/08/kamala_and_biden_have_clearly_surrounded_themselves_with_people_who_know_nothing_about_business_or_economics.html
https://thefederalist.com/2024/08/16/the-new-york-times-is-shocked-that-pro-lifers-are-serious-about-protecting-babies-at-conception/
https://www.thegatewaypundit.com/2024/08/watch-peter-doocy-masterfully-gets-biden-admit-kamala/
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