Psaki’s ‘No Economist’ Assertion Draws Some Inflation Dissenters | The Daily Wire
No, Jen Psaki told Peter Alexander this week. And why not? Well, the White House press secretary explained to the NBC News correspondent, “because no economist out there is projecting that [Build Back Better] will have a negative impact on inflation.”
Which is laughable. Many economists, even lefty ones, have said just that.
The notion that increased government spending doesn’t carry the risk of inflation, said Michael Jay Boskin, an economics professor at Stanford University’s Hoover Institution, “is economically illiterate.” Increased government spending adds to the total demand for goods and services, he added, “such that we are risking inflation, and the Biden administration seems to be trying divert attention. There is a risk that inflation may become entrenched. It’s hard to imagine a worse outcome than an inflation spiral.”
Well, that doesn’t sound like “no one” does it?
We are teetering on the edge of an inflation spiral. This scene has been played out many times in history with the same predictable results. The Weimar Republic is the most well known example, but recent events in Venezuela are another. Italy has gone through this. And America may be next. Just wait until it costs you $1,000 to fill up your gas tank.
I don’t think we’ll get there. I think cooler heads will prevail before that happens. But it really could go either way at the moment.
Welcome to Biden’s America. #IToldYouSo
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