Watch: Biden Says Inflation “Tough Problem to Solve,” But Unrelated to Spending

Elvis Dunderhoff May 11, 2022

We have a stupid and decadent population that doesn’t even know the most basic realities of economics.

So this old guy can get up there and claim that there is no relationship between government spending and inflation.

New York Post:

President Biden said Tuesday that soaring inflation was “a real tough problem to solve” and warned it could get worse before it gets better — while offering no new ideas to stem rising prices.

“It’s really complicated. I’m not suggesting American people can’t understand it. They understand it, but they have, you know, they’re working eight, 10 hours a day just to put food on the table,” Biden said during an event at the White House-adjacent Old Executive Office Building.

With annual inflation at highs not seen in more than 40 years, Biden declined to predict how long it would take for prices to start coming down — then suggested they may actually rise even higher through 2023.

“I’m not going to predict that,” he told reporters. “It ranges depending on which economists you’re talking to — by the end of this year and some say it’s going to be, it’s going to increase next year. But there’s others who say by the end of this year, you’re gonna see it come down, by the [end of the] calendar year. I don’t know, but I know what we have to do to make sure that we can bring it down.”

How can it ever come down? They are raising interest rates – and that is destroying the markets, which is causing inflation. It frankly probably would have been better to just leave interest rates low? And maybe raise taxes instead? I don’t even know, but it’s definitely way too late to solve the problem by lowering interest rates, because the market bubbles were serving as this counter balance to inflation.

There is literally no way to dig out of this hole, other than a full-on austerity program where people live in government barracks, work 14 hours a day, and eat nothing but rice soup. For that plan to work, you’d have to have manufacturing return to the US. But for manufacturing to return to the US, you’d have to convince the Chinese to teach people how to do it. They don’t tell you this, but the manufacturing has been run by the Chinese for so long, no one in America even knows how to do it.

Annual inflation hit 8.5% in March — the highest rate since 1981 — after Biden assured the public last year that smaller price hikes were temporary. Tuesday’s event came on the eve of Wednesday’s announcement of April’s Consumer Price Index figure, which economists expect to come in at 8.1%.

Asked about polls showing large majorities blame him for high inflation, Biden said, “All they’re focused on, understandably, is the problem they’re facing.”

“They get a five-and-a-half percent raise, average raise, in their salaries. And yet inflation exceeds that. And they look around the world and they know that a lot of it’s extremely complicated, and so they’re frustrated and I don’t blame them,” Biden said.

The president blamed the COVID-19 pandemic, Russia’s invasion of Ukraine and what he described as greedy oil and meat companies’ price spikes — rather than government spending.

Now the meat companies are as greedy as the oil companies. Soon your local baker will be condemned as a greedy bastard trying to rip you off – he also tried to rape Belle, Biden will claim.

This is all just retarded.

How do people go through the education system and not understand the very basics of economics?

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