The brilliant Dr. Ben Carson has a warning for America: Biden will turn America into Argentina or Venezuela with rampant inflation and massive debt.
There is little doubt that is true as inflation jumps up to 3.1% and he touts a $6 trillion budget after spending trillions on socialist programs.
Inflation is rampant as Mises points out:
Corn, soybeans, and wheat have been trading at multi-year highs, with corn having risen from around $3.80 per bushel in January 2020 to approximately $6.75 now. Chicken wings are at all-time record highs. It is getting more expensive to eat.
Copper prices have risen to an all-time high. Steel, too, recently traded at prices 35% above the previous all-time set in 2008. Perhaps most famously, the price of lumber has nearly quadrupled since the beginning of 2020 and has nearly doubled just since January.
Naturally, with raw materials prices soaring, prices of manufactured goods are jumping, too. That is especially noticeable in the housing market, where the median price of existing homes rose to $329,100 in March—a whopping 17.2% increase from a year earlier.
The cost of driving is soaring, too. According to J.D. Power, cited in The Wall Street Journal, the average used car price has risen 16.7% and new car prices have risen 9.6% since January
The Feds claim this is transitory but don’t count on that. The Federal Reserve has a terrible track record. They can’t predict the future nor can they control millions of prices.
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Watch:
Ben Carson warns Biden will turn America into ‘Argentina or Venezuela’ with rampant inflation and massive debt.https://t.co/RO5kZ6tekh pic.twitter.com/sU6lJi56jo
— Trish Regan (@trish_regan) May 29, 2021
Democrats have shown us for over 100 years that they can’t Govern, but people keep voting for them because they really think Democrats are going to give them something for free. Then the sugar high of too much Government spending sets in and Democrats vote for Republicans to fix the mess. Then the Democrats promise free stuff again. People really are that stupid! But this Time, the Democrats have gone after Small Business, the people who provide over half the jobs in America. There may not be anything for the Republicans to fix in a year.
Debt and inflation are constructs of the white male capitalist patriarchy.
They don’t apply because history has ended and the faculty lounge will reign for 1000 years and make a golden utopian paradise with rainbow stew, chocolate fountains and a personal waterpark (!) for all comrades of the unity collective.
Where were the Feds in 2008? Probably the same place they are now….with their elitist heads in the sand.
Cloward – Piven strategy.