As Inflation Continues To Roar, Why Do
Biden, Powell, And Yellen Still Have Jobs?
Issues & Insights,
by
The Editorial Board
Original Article
Posted By: RockyTCB,
2/15/2023 6:30:20 AM
Almost exactly two years ago today, the New York Times ran an article headlined: “Biden and Fed Leave 1970s Inflation Fears Behind.”
That story has not aged well. Neither have the troika of ideologues and imbeciles behind the rebirth of ‘70s-era inflation.
On Tuesday, the Bureau of Labor Statistics reported that prices climbed 0.5% in January, which is up from December’s 0.1% hike. Prices were up 6.4% over the year before, which is higher than economists had been predicting and comes amid warnings that inflationary pressures are building again.
This all comes one week after President Biden reassured the nation that “here at home, inflation is coming down.”
Reply 1 - Posted by:
mifla 2/15/2023 6:59:53 AM (No. 1403246)
Because inflation was the goal.
22 people like this.
Reply 2 - Posted by:
Bur Oak 2/15/2023 7:23:31 AM (No. 1403258)
Exactly, the government pays off debt with inflated money while at the same time making the people more dependent upon the government. The government has been destroying the value of savings for years.
17 people like this.
Reply 3 - Posted by:
privateer 2/15/2023 7:44:18 AM (No. 1403271)
Inflation is coming down...on us, like a plague of locusts. Eating up our substance; contributing nothing. Thanks Vegetable and co. They still have jobs because destroying our economy to weaken the US IS their job.
9 people like this.
Reply 4 - Posted by:
Clinger 2/15/2023 8:07:52 AM (No. 1403287)
Why do we keep making excuses for these people, FTA: "Which means that Biden, Yellen, and Powell had it exactly wrong two years ago."
The economy was just crawling it's way back into the production of wealth, stuff, and they jacked up the money supply by close to 50%. Do we really think that they didn't know that more money chasing less stuff is the definition of inflation and just were wrong, made a mistake? This was a deliberate sinister seizure of private property to feed bloated government that used it to purchase favor and diminish the value of the $30 trillion debt.
This is no different than when a feudal lord sent his knights to storm into a village to seize foodstuffs and valuables to finance his next campaign against his cousin.
And there's a profoundly disturbing pattern here. In 2008 and in 2020 the destruction, call it quantitative easing, too big to fail bail outs, or economic stimulus, it all began at the end of a republican POTUS's term. The slight phase delay in the effects make it all look like it was on Biden's watch but the ball started rolling under Trump.
2 people like this.
Reply 5 - Posted by:
montwoodcliff 2/15/2023 8:20:07 AM (No. 1403296)
There’s nothing that can’t be done about Biden, legally, and we are stuck with the other two because there is a Democrat Senate. Yellen and Powell are hacks who go along with the Democrat Party. Remember, it’s all about buying votes, this Democrat spending. Democrats will never admit that Reaganomics works because it wasn’t their idea. Because of Biden’s blind hatred of Trump, he reversed everything Trump did, especially oil and gas exploration. We had Russia and Iran on their knees because oil was so cheap. When oil prices rose, Putin saw that with the influx of money, he could go into the Ukraine. The Russian excursion into the Ukraine wasn’t the cause of inflation; Biden’s policies were. And here’s something else, prices aren’t going to come down once inflation cools off because we’ll be used to paying the higher prices and the companies know this. It’s stupid and ignorant people who vote for Democrats because they are the ones being bought off!
7 people like this.
Reply 6 - Posted by:
janjan 2/15/2023 8:38:25 AM (No. 1403320)
Why does anyone in his Cabinet still have a job?
8 people like this.
Reply 7 - Posted by:
jalo1951 2/15/2023 8:47:08 AM (No. 1403331)
And yet I know people who think it is time that the "benevolent, all caring government" issue more stimulus checks because "I could really use the help". Totally oblivious to the fact it is because of government spending and borrowing that they cannot make ends meet. Ignorance is not bliss, so many ignorant people. Always knew that the government who controls your movement (energy crisis), your food supply (look what they are doing to the farmers), health (covid shots), education (students indoctrinated not educated), where we live, controls the populace. And ALL the bags of manure they throw at us (telling us it is for our own good) do not apply to them. Not educating children about our rich history is one way to keep the populace ignorant and easier to manipulate. A stupid population is easier to control. Can you imagine how high inflation would get if more checks were released? Too many people don't understand the connection. "I'm from the government and I am here to help". Scarier words have never been spoken.
3 people like this.
Reply 8 - Posted by:
bpl40 2/15/2023 9:26:42 AM (No. 1403361)
#5, your comment should read “because the Democrats stole the Senate”.
4 people like this.
Reply 9 - Posted by:
ARKfamily 2/15/2023 9:32:53 AM (No. 1403371)
Just think, we are being told there was no cheating going on in the 2020 election so this is the best they have to offer?
3 people like this.
Reply 10 - Posted by:
smokincol 2/15/2023 9:41:37 AM (No. 1403378)
this is like "locking the barn after the horse is gone" scenario - we had our greatest President since Ronald Reagan in office and somehow this mis-fit moron "wins" an election and here we are
- complacency is as great an evil as any of the 7 deadly sins and it sure has a stronghold in the good 'ol USofA
"According to Christian tradition the seven deadly sins are: envy, gluttony, greed or avarice, lust, pride, sloth, and wrath."
3 people like this.
Reply 11 - Posted by:
Strike3 2/15/2023 10:06:07 AM (No. 1403411)
Whoever writes Biden's speeches for him can always manage to find one point to pass off a lie. Using percentage of growth decreases to claim that inflation is dropping can be twisted to mean that actual inflation is coming down - if you are talking to idiots. Just because cancer goes into remission for a short period does not support the claim that it has been cured. Just because Biden avoided saying his usual ten dumb things today does not mean that he is getting smarter, it only means that he forgot one of them.
1 person likes this.
Reply 12 - Posted by:
padiva 2/15/2023 10:07:36 AM (No. 1403415)
Why?
because the Biden administration gives the illusion of freedom and security to the low information voters.
1 person likes this.
Reply 13 - Posted by:
stablemoney 2/15/2023 10:07:51 AM (No. 1403416)
Congress should be fired as well, for authorizing all the spending. And correct, inflation is the goal. Both parties want a huge, central government, but don't want you to know how much it costs. The government is funded 50% by inflation, which requires no tax authorizations. Then, there is the goal of taking your 401k's and accumulated wealth to even the playing field. Everyone will be equivalently poor. An inflation tax skims off 10% of the spending power of all your assets. You can reduce that with income on your assets, but asset income, after the inflation, is still negative. Basically, Biden and the Congress have spent all national income in the last 2 years, plus an additional 10% reduction in asset values. All Americans will experience a 25-40% reduction in standard of living in the next decade.
2 people like this.
Reply 14 - Posted by:
Saracen6 2/15/2023 10:33:14 AM (No. 1403439)
We ask this question over and over. Why are they still there ? Well in my opinion, they've had cover from a media that chooses to look the other way, shift blame, or simply remain quiet. And there is nothing that can be done about this. It's terribly frustrating
1 person likes this.
Reply 15 - Posted by:
judy 2/15/2023 11:10:06 AM (No. 1403470)
You left out Biden , Kamala & the 18 republicans who voted with Schumer for the multi trillion $$$$ mess..
2 people like this.
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