One of the biggest issues that Americans (like everyone around the world) are concerned about is their standard of living. Not just the “economy,” with all of the fancy terms like GDP, but people’s personal income, how far that income goes, how well they can take care of their family, will they be able to afford to retire.
Contrary to what the mainstream media wants you to think, that’s not just a Republican or conservative issue. One of the famous stories about when Bill Clinton ran (and won) against George Bush in 1992 is that the Clinton campaign had a sign hung up in the campaign headquarters to keep everyone focused on what they thought would help them win. The sign read, “It’s the economy, stupid!”
That sign was right. What is wrong is Democrat’s thinking about the economy and about how to make it better. That’s the big secret, the elephant (donkey?) in the room that leftists don’t want to talk about. The secret is that the only thing that leftists do to economies is ruin them because they have no clue how it really works. And, sadly, the Democrat party foxes “guarding” the Washington, D.C. hen house are being run by leftists.
And the American people are being left holding the empty bag. Emel Akan writes,
More U.S. economists are starting to publicly warn of rising inflation, with renowned economist Mohamed El-Erian saying he worries “a great deal” that inflation will not be transitory and arguing that there’s too much “on-the-ground evidence” that it will stay high.
In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists, said central banks and markets need to “widen their perspective” to avoid significant damage to the economic and financial system.
El-Erian began his op-ed by stating, “It is not often that I take a very strong view that runs directly counter to the market consensus.”
He noted that the economic growth in the United States would be robust, but voiced skepticism over the “Goldilocks market consensus” that inflation will be transitory.
“I do worry a great deal, however, about the widespread conviction that the current rise in inflation will be transitory,” he wrote.
Translation: Prices are going to continue to rise. And keep rising. And rise some more.
That’s the legacy of runaway government spending which is a key “feature” of Democrat economics, and Biden’s spending spree shows that he is fully on board with that.
Unlike the Federal government, though, we can’t just get our banks to loan us infinite amounts of money to buy stuff while prices increase. Someone needs to stop this train before the Democrats completely ruin the economy.