[tomder55]

The button was Gerald Ford's answer to the inflation problems of the early 1970s.



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.

[jlisenbe]

He thinks that the cause of the inflation is pandemic related supply chain issues exasperated by the war he helped provoke in Ukraine .

I'm not convinced he believes that at all. I think it's just a diversion.

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 .

Absolutely true, and you cannot get very many people interested in talking about it. With the demise of the three or four other libs on this board, the one that is left says nothing about it. One of the disappeared libs once said that it didn't bother him that it would be a disaster for his children and grandchildren since, after all, every generation has its problems to deal with. Amazing.

[tomder55]

Our parents left us a great nation. I can't say the same for us.

Treasury Sec .Janet Yellen is supposed to be one of the adults in the room . She is on the talk circuit defending the over-spending done to address the pandemic . She says it is impossible for us to insulate ourselves from soaring gas prices . She and the world bank say we are in an inflationary cycle for a long haul . She calls inflation unacceptable but offers no solutions and doesn't recognize her agencies role in the cause .
But hey ; she put up the LGBTQ++xyz flag up at Treasury .


Glad she has her finger on the pulse of what is important !......well that and this
Janet Yellen, Biden’s Treasury pick, made over $7M in speaking fees (usatoday.com)

[tomder55]

I am having nostalgia for Peppermint Patty Psaki . I never thought someone could do a worse job . But Karine Jean-Pierre (KJP ) has managed it .

“What we’re trying to say, what I’m trying to say to you, is that the economy is in a better place than it has been historically,”

Press Briefing by Press Secretary Karine Jean-Pierre and Matthew McConaughey | The White House

of course Clueless doesn't give her much to work with. She struggled trying to explain why he invoked the Defense Production Act to bypass sanctions on the import of Chinese Solar panels .I'm wondering how much Hunter Biden's deals with Chinese energy companies plays into invoking an act that is supposed to address national emergencies . I cannot find the emergency in any possible shortages of Chinese solar panels .

[jlisenbe]

“What we’re trying to say, what I’m trying to say to you, is that the economy is in a better place than it has been historically,”

She must also believe in a literal Easter bunny. It's just breath-taking how liberal dems can lie so blatantly, knowing that the ever compliant press will have their backs. We can only hope for a great Christian revival that will genuinely change hearts and minds to the place of appreciating honesty.

[tomder55]

The folly of the US energy policy is in full display as prices at the pump rapidly increase going into the summer vacation season. By the end of the weekend the global price of oil will skyrocket to @120/bb + . How much higher can they go ? The sky is the limit. Demand coming out of the pandemic and prices are subject to silly stuff like capital restrictions ; government policy or myu favorite new insanity ESG metrics ( Environmental, Social, and Governance).

Available refineries are maxed out in the US where our brainiacs have not approved a new refinery since 1977. Refineries in Russia are going off line over the war .

Higher demand ..... less supply . You can invoke as many emergency executive actions and declarations as you like and that fact will not change.
Gas prices are up over 50% in the U.S. over the past year and 88% in Europe. Consumers cannot keep assuming the burden. We are headed to a full out recession .

[Wondergirl]

We are headed to a full out recession .

What do you suggest?

[tomder55]

the damage is already done . The way out is to raise interest rates above the rate of inflation , force a recession to cool down demand .Then when everything is stabilized ; control spending !! reduce the deficit . This is ,mostly a fiscal policy recession and a foolish energy policy where utopians think we can ride carbon free unicorns .

At this point

[jlisenbe]

.Then when everything is stabilized ; control spending !! reduce the deficit . This is ,mostly a fiscal policy recession and a foolish energy policy where utopians think we can ride carbon free unicorns .

Neither party has shown much inclination to control spending. The past 50 years or so have been a politicians dreamland. Spend, spend, spend without having to raise taxes. Now we find ourselves more than 30 tril in debt and facing high inflation. It's just been incredible that we Americans have been so dumb to allow this to happen, but then we also believe that there are dozens of genders and that two people of the same sex can be married, so I guess it shouldn't be surprising.

And right on cue, we get this. Budget deficits? Well, we have an easy solution for that. Cut taxes!!

Democratic senator from New Hampshire who faces difficult reelection puts daylight between herself and President Biden. Hassan says it’s ‘frustrating’ Biden administration hasn’t supported push to temporarily scrap federal gas tax.

[Wondergirl]

there are dozens of genders and that two people of the same sex can be married, so I guess it shouldn't be surprising.

And that affects you how?

[jlisenbe]

I didn’t say it affected me. My point was that many of us will now believe anything no matter how preposterous it might be.

[Wondergirl]

I didn’t say it affected me. My point was that many of us will now believe anything no matter how preposterous it might be.

Yet one cannot ignore the science....

[jlisenbe]

That is true. The science is very clear that there are two genders. XX and XY chromosomes determine that very plainly.

[Wondergirl]

That is true. The science is very clear that there are two genders. XX and XY chromosomes determine that very plainly.

Nope, that's no longer the science. Science has made new discoveries in this 21st century, discoveries like science tends to make.

[jlisenbe]

Yeah. Discoveries concerning which no one has heard.

[Wondergirl]

Yeah. Discoveries concerning which no one has heard.

Of course they are published. Google or visit your local public library.

[jlisenbe]

Once again you have no clue and must count on someone else to hopefully bail you out. You have become sadly and utterly predictable.

[tomder55]

omg !

[Wondergirl]

Once again you have no clue and must count on someone else to hopefully bail you out. You have become sadly and utterly predictable.

You're looking in the mirror when you say that. If I lived near you, I'd toss you into my car and drive you to your library and show you how to find the science.

[jlisenbe]

show you how to find the science.

You mean like you've done the past couple of hours? Come on. You just don't know. No one even remotely familiar with the science would deny that sex chromosomes determine gender. It's like trying to suggest that the moon is made of cheese. I have to tell you that it gets old having to argue basic biology with someone who doubtless understands libraries well but who knows but little about life science.