Bidenflation Torpedoed Biden-Harris
High inflation spurred Donald Trump’s defeat of Kamala Harris last November. The economy was the top issue for most voters, and inflation was the top economic issue. As Biden’s partner in economic crime, Harris could not escape the blame for the torpedoing of the dollar’s value in recent years.
Inflation occurs when the government prints excessive currency, resulting in more money chasing the same amount of goods and services. Nobel Laureate economist Friedrich Hayek wrote, “Inflation is never an unavoidable natural disaster; it is always the result of the weakness or ignorance of those in charge of monetary policy.” As economist Per Bylund observed, “Inflation is money losing its purchasing power.” Government is the premier profiteer of inflation, providing politicians with “free” money to spend while systematically defaulting on any debts government promised to pay.
Biden inflation lies begin
In July 2021, Biden declared, “There’s nobody suggesting there’s unchecked inflation on the way — no serious economist.” Actually, there were plenty of dire warnings. In December 2021, Biden scoffed at inflation as a “bump in the road.” But that “bump” became a hole in the gas tank for tens of millions of Americans who drive to work as fuel prices set one record after another. Biden claimed inflation is a problem everywhere, but National Public Radio reported that “between 2019 and 2021, the United States saw one of the biggest inflation rate increases in the world, behind only Brazil and Turkey.” Rep. Lance Gooden (R–Texas) noted, “Joe Biden promised $2,000 stimulus checks but gave Americans $5,000 per year inflation instead.”
Biden spawned the highest rate of food inflation since the Nixon administration, but he scoffed when a CNN interviewer recently asked him about the 30 percent rise
in grocery prices. Biden ridiculously declared of consumers, “They
have the money to spend!” Exiled whistleblower Edward Snowden quipped that the White House was trying to defuse anger by “telling people no, no, a shopping cart full of groceries has always cost $36,000.”
Biden’s pro-inflation policies divided Americans between those who work for a living and those who vote for a living. In 2021, Biden boasted, “Even after accounting for inflation … our families have more money in their pockets than they did before the pandemic.” Putting more unearned dollars in people’s pockets was a windfall for politicians, but it worsened economic disruptions. Besides, it was scant consolation to have more dollars that purchase less and less each month.
Experts kindly offered plenty of financial remedies to hard-pressed Americans. For Thanksgiving 2021, the Federal Reserve recommended that people rely on soybean-based dinners instead of turkey — saving 76 cents a serving. Georgia Democratic Party leader Stacey Abrams touted abortion as a cure for inflation: “Having children is why you’re worried about your price for gas, it’s why you’re concerned about how much food costs. For women, this is not a reductive issue.” Professor Teresa Ghilarducci, in a Washington Post op-ed, recommended that families with an income less than $289,000 per year “adjust” to inflation by eating lentils instead of meat, ditching their car and taking public transit, and maybe letting their pets die. In October 2022, Biden implied that soaring food prices wouldn’t be a real problem if Americans bought no-name, store-br
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
