Joe Biden Dismisses Inflation Concerns

Inflation is real.

It has been consistently rising for three months now.

There are only two questions about it which are hotly disputed:

1.) Is inflation a temporary speed bump on the road to economic recovery, OR, a long term trend?

2.) Is inflation being driven by Joe Biden’s climate, energy and economic policies or something else?

The Hill:

“Nearly 9 in 10 voters say they are concerned about the rising cost of living in the U.S., according to a new survey from the conservative advocacy group American Action Network.

Eighty-eight percent of voters surveyed said they were either “somewhat” or “extremely” worried about the rising cost of living, while 86 percent said they were worried about inflation and 79 percent said they were worried about rising gas prices. Seventy-three percent said they were concerned about “impending tax increases.” …”

The fact that Joe Biden is on defense on rising violent crime and inflation reflects his internal polling. The public polling is bad enough.

About Hunter Wallace 12123 Articles
Founder and Editor-in-Chief of Occidental Dissent

5 Comments

  1. Biden doesn’t even know where he is half the time. When you’re rich and corrupt you don’t worry about inflation. That a peasant problem and we are the peasants.

  2. When inflation gets going it takes on a life of its own and can only be stopped with drastic measures. In the late 1970’s/early 1980’s inflation crushed the economy and Federal Reserve Chairman Paul Volcker raised interest rates to 20% to stop inflation. This crushed inflation over time but also collapsed the housing market and increased unemployment. The rapid rise in inflation in the 1970’s was also one of the contributing factors in Jimmy Carter’s 1980 loss to Ronald Reagan.

    The indebtedness of the U.S. in both government and private spheres was much lower in the 1970’s than today. Interest rates were also naturally higher than today providing an inflation adjusted return of about 3 – 4% which encouraged savings. Government spending in the 1960’s on the Vietnam War, so-called “Civil Rights”, the Great Society gibs programs from LBJ along with everything else caused Government spending to increase leading to the inflation of the 1970’s. There was more savings, less debt then which gave the Government economic room to do things like drastically raise interest rates to curb inflation.

    Debt, both private and Government is off the charts now encouraged by artificially low interest rates. This means the Government has no room to increase interest rates to curb inflation because even a minor increase in rates makes Government debt much more costly and private debt unpayable leading to widespread bankruptcy. The Government is now boxed in: it needs to both increase interest rates rapidly to curb inflation and not allow interest rates to rise at the same time. Good luck with that one.

    As inflation takes on a life of its own it will impoverish many people in the country and ruin the dollar. A weak, decrepit, corrupt pig like Dementia Joe cannot inspire confidence during troubled times but bad as Dementia Joe is, when Cackling Kamala becomes Mr. President she will be worse by a mile. No doubt she will blame her catastrophic failures on racism, what else?

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