BIDEN/'HARRIS ARE NOT REPRESENTING AMERICA CORRECTLY

 Submitted by: Donald Hank

The issue is no longer left vs right. Obama's biggest misdeeds were in the Middle East, where he created chaos in Syria, Libya and elsewhere. It was aimed at fulfilling the Yinon Plan -- and that was not a left-right issue.

When the Fed prints trillions and trillions of unbacked dollars, that only benefits the oligarchs (like Soros) and impoverishes the rest of us.

Biden and Trump both encouraged this practice.

Economists and investors are warning of a permanent inflationary effect of this overprinting, although Biden claims it will go away.

Sen. Richard Scott  

“While officials in President Biden’s own Administration have reportedly expressed private concern about the impacts their massive spending plans will have on inflation, Biden, Treasury Secretary Janet Yellen and the Democrats continue to play down this threat publicly. They are lying in public, while privately worrying about the same issue I’ve been sounding the alarm on for months.” 

Desmond Lachman, a resident fellow at the American Enterprise Institute, formerly a deputy director in the International Monetary Fund’s Policy Development and Review Department and the chief emerging market economic strategist at Salomon Smith Barney, writes:   

“Ignoring the painful inflationary experience of the 1970s, the Fed keeps affirming its intention to only start removing its proverbial monetary punchbowl when it sees that actual inflation is exceeding its inflation target. By so doing, it ignores the fact that monetary policy generally operates with long and variable lags. By waiting for actual inflation to exceed its target, the Fed runs the all too real risk of falling behind the inflation curve.” 

Michael Arone, chief investment strategist at State Street Global Advisors: 

“It might be easy for the Fed to dismiss rising prices as temporary, but with aluminum, copper, oil, lumber and housing all surging in recent months, it’s risky for investors to ignore the possibility that this may be a more permanent upward shift in prices,” 

David Volkerts-Landau, Deutsche Bank Chief Economist: 

“It may take a year longer until 2023, but inflation will reappear. And while it’s admirable that this patience is due to the fact that the Fed’s priorities are shifting to social goals, ignoring inflation leaves the world’s economies sitting on a time bomb.” ... “The effects can be devastating, especially for the most vulnerable in society.”  

The Spanish newspaper El Economista says economist Joseph Lavorgna of the French investment banking company Natixa has boiled down the risk of permanent inflation to a formula. 

In translation: 

“A major federal expense that maintains the twin deficits in a historically high range poses a risk of long-term inflation for the economy.” 

“Twin deficit” (or “double deficit”) refers to a nation that has both a current account deficit and a budget deficit – ie, the economy is importing more than exporting and the country is spending more than it is generating. 

US Federal debt Q1 2021: 

$28,132,570 

Trade deficit as of Aug 2020: 

US exports were $171.9 billion vs exports of $239.0 billion. 

Assuming Lavorgna is right, the US is facing a perfect storm for long-term inflation thanks to the Fed’s massive easy money experiment. 

You and I are still the guinea pigs. 

 

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