Obama’s Economist: “It’s Kind of Insane” We Aren’t “Constructing Pipelines”

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“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.

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.

via youtube

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?


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Harrison Pendleton
Harrison Pendleton
8 days ago

Not to mention the longtime crook Joe Biden and his ill-bred family have been exposed as selling US oil to the chinese commies and have also likely offered their youngsters to the CCP degenerates and pervs (think Biden molesting his young daughter).

GuvGeek
GuvGeek
8 days ago

Davos Elites, i.e. the World Economic Forum Cult, want it all for themselves. They believe all resources are finite and with almost 8 Billion people on the planet, we will used them all up in like 10 years. That is why we can’t have Fossil Fuels and they are doing all they can to exterminate the Human Race as we know it. They are scared there won’t be enough fuel for their private jets and they might have to take a train or worse, a Clipper Ship! These Mental Midgets have been predicting the “End of the World in 10 years” for the last 50 years. They are insane because the are doing all they can to make their “End of the World” prophecy come true.

When everything collapses, even gold will be worthless. You can’t eat gold. Surviving the next 10 years is going to be tricky. You own nothing, because you will be Dead! So far, people are refusing to believe what is going to happen if the Democrats and Bureaucrats aren’t removed from the Government pretty much immediately. The Government sees the writing on the wall in November and has shifted into overdrive while most of America still have their parking brake on. At least Europe is trying to start the engine, but Putin has already cut off their oil supplies and their tank is on empty. In a year, the Strategic Petroleum Reserve will be empty and we will be where Europe is right now! In Germany, gasoline is $7.25 a gallon and climbing. Gasoline cost even more in England, Greece, The Netherlands, Finland, Denmark, Switzerland, and Norway.

Economist Larry Summers is sugar coating what is about to come – Total Economic Collapse in America. The only thing the Dollar will be worth in 3 or 4 years is burning in the Fireplace to keep warm. A better hedge than gold would be Rubles and Yuan. Trator Joe is turning Cash into Trash! Only going all in on Fossil Fuels, like immediately, can save the US Dollar!