The Biden administration seems to be proud of its inflation surge, brought on by low interest rates and monster government spending. How else to explain this?
According to the White House transcript, Psaki, answering a reporter's inflation question, said:
Obviously, we’ve seen, over the last couple of days — to your point — some reaction to the CPI numbers that came out just yesterday. And, you know, our view on that is it reflects the reality of an economy that’s rapidly turning back on because of a successful economic strategy.
And if you dig into the data, there are a couple of factors at play that I think people are taking a look at now that we’ve dug into the data more, including the fact that, you know, for example, airfare is increased by 10 percent but are still almost 20 percent below pre-pandemic levels. The — one of the biggest impacts we saw on the data yesterday was on used car sales, and that is a direct impact of the semiconductor chip shortage.
So, point is: There’s a number of factors here that can be explained and we’re working to address. And I think as we continue to communicate that, hopefully that will give some comfort to the American people and, of course, industries.
So they're "working to address" all this inflation and we're supposed to be "comforted" by their communication to us about all that "work" to address, and never mind the high prices. Intentions, you know, and lots of deep thinking. Results you see, are for people like Trump. They seem to think they can command prices down with all that communication, much as Hugo Chavez used to do, creating shortages to accompany their runaway inflation as their big comforting answer....... but that they're still convinced that they can fool all of the people all of the time on an uncontrollable monster like inflation.....To Read More....
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