June 16, 2021

A TRILLION HERE, AND TRILLION THERE, AND SOONER OR LATER, YOU’RE TALKING ABOUT REAL MONEY: Biden’s $6 Trillion Blowout Budget Proposal Would Have Three Embarrassingly Bad Results, Study Finds.

Not least of which: Deutsche Bank Issues a Terrifying Warning for America Under Biden. “The authors warned that ‘neglecting inflation leaves global economies sitting on a time bomb.’ They noted similarities between the 1970s and today.”

Fortunately, President Biden takes economics seriously: “Milton Friedman isn’t running the show anymore.” And we’re all paying for Biden’s rejection of sound economic policies. “The irony is that Biden’s rejection of Friedman’s teachings on money, taxes, and spending may bring about the same circumstances that established Friedman’s preeminence. In a year or two, the American economy and Biden’s political fortunes may look considerably different than when Janet Yellen blurted out the obvious about inflation. Voters won’t like the combination of rising prices and declining assets. Biden’s experts might rediscover that it is difficult to control or stop inflation once it begins. And Milton Friedman will have his revenge.”

As their photo last month illustrated, Biden is Jimmy Carter, super-sized.

 

 

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