“It’s kind of insane that we have trucks and trains carrying oil all over this country rather than constructing pipelines which would permit accessing more resources, deeper, safer transmission,” Obama’s economist Larry Summers said at Harvard’s Institute of Politics.
We know why that is. Environmentalist extremists want oil and every fossil fuel to fail and cost as much as possible to get rid of them and make alternative energy look more desirable. That’s why they are driving up the price of gasoline except for this brief respite before the election.
Davos elites want the US to continue the “net zero” lunacy and are currently urging the new UK PM Liz Truss to do exactly that. Net zero policies have caused the ongoing disastrous energy and inflation crises that will make Europeans suffer this winter.
Demflation costs the average family about $500 a month as of August.
Watch:
INTEREST RATE INCREASES ARE ALL THEY HAVE
Summers had predicted substantial inflation from the over-stimulation of the economy. He mentioned the price of gasoline that increased prices. The Feds recognized belatedly that inflation control has to be their priority. Summers then goes into his views on “increased performance.”
[The elites kind of like inflation but not hyperinflation that could turn us into the Weimar Republic.]
Summers echoed what Donald Trump warned about if Germany made itself dependent on Vladimir Putin and did away with nuclear.
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He didn’t admit we are currently in a recession, but he warned against gradualism in raising interest rates. Summers is still kind of a Democrat before he’s an economist. The irony is Biden Democrats are still spending and will let gasoline go back up in price after they stop robbing the emergency reserves after the election.
PREDICTING DISASTER
Peter Schiff has a different message. He, too, predicted the reckless monetary policy and reckless spending. It’s all about inflation now.
The only thing he didn’t predict was how bad inflation would be.
He explained that inflation is a federal tax. “Your entire life savings are about to be decimated,” it will be taxed away through inflation, Schiff said.
We have an economy more dependent on money printing and debt than ever before, so inflation will go through the roof. Schiff says Biden will go through ten trillion this year, and “the US dollar will be destroyed.”
“Oil prices are going to shock people this year,” he said. We’re the world’s biggest debtor with massive trade deficits. He advises divesting from US bonds and the dollar. He says to buy gold.
His view might be kind of extreme. What do you think?
Tomorrow #Powell will again claim that no one saw the current #inflation problem coming. Watch my Jan. 2021 Money Show talk, where I totally nail the inflation we're currently experiencing. I was right then and I'm right now that inflation will get worse. https://t.co/mnLSVgyqju
— Peter Schiff (@PeterSchiff) September 21, 2022
https://twitter.com/MikePMoffatt/status/1572206083283755009?s=20&t=V1e0-l-vnlZ4ILhLLFDXiw
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