Elitist Economic Illiterates Trying to Micromanage a $21 Trillion Economy Means Historic Inflation

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Elitist Economic Illiterates Trying to Micromanage a $21 Trillion Economy

Means Historic Inflation

By James S. Soviero

A report recently released by Steve Moore and Jon Decker revealed that 62% of Biden appointees “who deal with economic policy, regulation, commerce, energy, and finance have virtually no business experience.”

The “vast majority of the Biden economic/commerce team members are professional politicians, lawyers, community organizers, lobbyists, or government employees.” Translation: They are elitists, untouched by reality, who are fully confident in their ability to know more about things than anyone else.

Here’s a Cliff Notes timeline; look into how these economic illiterates have trashed a $21 trillion economy.

When Biden took office in January of 2021, inflation was 1.4%. By April, it more than doubled to 4.2%.  Fed Chairman Jerome Powell proclaimed, “These one-time price increases are likely to have only transitory effects on inflation.”

As the number ticked up to 5.0%, Treasury Sec. Janet Yellen said on 5/27/21, “My judgment right now is that the recent inflation that we have seen will be temporary. It’s not something that’s endemic.”

On July 19, 2021, while consumers continued suffering, Joe Biden assured the masses, “Some folks have raised worries this could be a sign of persistent inflation. Our experts believe…..that most of the price increases ….were expected and expected to be temporary.”

In December, with inflation hitting 7%, Powell, one of Joey’s “experts,” issued the following Kamala-type word salad.  “We tend to use (transitory) to mean that it won’t leave a permanent mark in the form of higher inflation.  I think it’s probably time to retire that word and try to explain more clearly what we mean.” Huh?  How about retiring you.

Apparently, what “we mean” could best be explained by a series of Pinocchio Joe’s lies.  On May 10, 2022, he blamed the spike to 8.6% thusly, “There are two leading causes of inflation we’re seeing today.  The first….is a once-in-a-century-pandemic.  This year we have a second cause-Mr Putin’s war in Ukraine.”

Janet Yellen

Back to the “experts,” Sec. Yellen, on 5/31/22, said, “I think I was wrong about the path inflation would take.”  Ya think?  And it only took this genius a full year and four days to figure it out!

Meanwhile, last month Biden bragged, “Look, here’s where we are.  We have the fastest-growing economy in the world. The world. The world.” Even Dem-loving fact-checkers had to expose that blatant lie for what it was.

Last week Hunter’s Father huffed, “While today’s headline inflation reading (9.1%) is unacceptably high, it is also out-of-date.”

The 79-year-old, “out-of-date,” increasingly cognitively crippled Joe Biden said that without so much as a hint of irony, even while his clueless advisors continue to bury the American economy under waves of historic inflation.


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GuvGeek
GuvGeek
24 days ago

The US Government is now run by College Cultist who are nothing but Educated Idiots. College does not make you smart, it doesn’t even make you educated, but it does make you Indoctrinated. For most people, a College Degree is a worthless piece of paper in a truth Free Market Economic System that isn’t being influences by Government picking winners and losers.

Lillie
Lillie
24 days ago

Trump cuts regulations. Prosperity roars and inflation is every low.
Democrats control Presidency. and both houses of Congress. More controls, more micromanaging. Business slows where regulation is worst. Inflation soars to levels even middle age adults can’t remember. Some of us remember 18% interest rates.
The people get what they votes for, even if some cast dozens of ballots. Those who knew what the Dumbs would do if back in control, just suffer, especially those of us on pensions or other form of limited income .http://www.paid.slate74.com   

The Prisoner
The Prisoner
24 days ago

Powell and Yellen are cheerleaders for the NWO. That’s why they always start out with this “things are not so bad” narrative. They set traps. The government has no right to manage our economy.

Yellen is more obvious. Her speech pattern indicates low intelligence. She recites whatever slogans are convenient, including delving into non-economic matters such as social policy.

The corrupt leftists are in those positions to damage us. Any decent, honest person put into that position would work for results, these low lifes work to fail in areas they pose as experts in.

Peter B. Prange
Peter B. Prange
24 days ago

Trump cuts regulations. Prosperity roars and inflation is every low.
Democrats control Presidency. and both houses of Congress. More controls, more micromanaging. Business slows where regulation is worst. Inflation soars to levels even middle age adults can’t remember. Some of us remember 18% interest rates.

The people get what they votes for, even if some cast dozens of ballots. Those who knew what the Dumbs would do if back in control, just suffer, especially those of us on pensions or other form of limited income.

Sick of it All
Sick of it All
24 days ago

They’re in charge of the purse strings and they’re stealing us blind. Abolish the federal reserve.