When will Clueless reintroduce the 'Whip Inflation Now '(WIN_) button?
The button was Gerald Ford's answer to the inflation problems of the early 1970s.
https://encrypted-tbn0.gstatic.com/i...Jg6MQ&usqp=CAU
He had no answers so he basically begged people to stop spending to reduce demand .
Clueless misreads the cause of inflation so he cannot come up with a policy that deals with it . He thinks that the cause of the inflation is pandemic related supply chain issues exasperated by the war he helped provoke in Ukraine . His plan is to trust the one man who's policies made the greatest contribution to the current inflationary cycle ;Fed Chair Jerome Powell.
The plan is to raise interest rates high enough and fast enough to tame inflation. Best guess that will mean double digit rates of interest rates . This in his estimation will cool inflation without tanking the economy . Good luck with that . That elusive Goldilock scenario.... not to hot ;not too cold soft landing rarely if ever achieved .
Meanwhile the real cause of the inflation ;printing monopoly money to fund out of control government spending ;like the $1.9 trillion American rescue Plan goes unaddressed . It was Powell who reacted late to inflation .It was Powell who told the country that inflation was transitory . He was wrong .And yet he was renominated and confirmed for another term as Fed Chair .
So Clueless called in his recent op-ed for even more government spending of money we don't have . In the same op-ed he talked of deficit reduction to reduce price pressures . He claims credit for winding down spending of programs like Build Brandon Better even though the only reason they are winding down is because of mandates built into the bill. He claims credit for increases in tax receipts wiithout saying that inflation is pushing the average American into higher tax brackets . That also will be temporary because as the Fed's solutions drag economic growth to a halt ;and almost assuredly leads to recession ,the windfall tax receipts will rapidly dry up.
