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remember how this feeb trumpeted over and over again how his crazed spending wouldn't cause inflation, and he and peppermint patti constantly dragged out the 'Nobel Economists' to supposedly prove it?
well, here we are..
Quote:
Last September, as the Build Back Better legislation was being considered in Congress, many members worried about the inflationary pressure of injecting an additional $2.4 trillion into the economy on top of the $4.1 trillion committed to the American Rescue Plan and the Cares Act.
When it looked like the Democratic majority might include enough deficit hawks to scuttle the bill, Nobel Laureate economist Joseph Stiglitz rounded up another 16 of the 36 living American Nobel Prize economists to declare, in an open letter, that whatever upward pressure on prices all this new money might bring there was no threat of inflation.
The Nobelists assured that we would see a robust recovery because of President Biden’s “active government interventions.” Their presumed authority was used to give credence to the president’s continuously twisting storyline on inflation — that it was “transitory,” good for the economy, a “high-class problem,” Putin’s fault for invading Ukraine, and the greed of oil and food companies causing rapid price increases in gasoline and groceries.
Demand-pull inflation is asserted to arise when aggregate demand in an economy is more than aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve.
remember how this feeb trumpeted over and over again how his crazed spending wouldn't cause inflation, and he and peppermint patti constantly dragged out the 'Nobel Economists' to supposedly prove it?
WOW the 17 Nobel Laureates are real people, who would have thought that?
Well they should all be fired because they give lousy advice.
How did they ever think that spending more money could get us out of debt?
How did they ever think that printing more money wouldn't make the existing money worth less? More of something usually makes it worth less not more.
These are basic concepts people but of course when it comes to Biden he can get lost in even the most basic of concepts.
Yep, they are real people>
The signees, who are all currently employed as professors at the nation’s top universities, include Treasury Secretary Janet Yellen’s husband George Akerlof, Sir Angus Deaton, Peter Diamond, Robert Engle, Oliver Hart, Daniel Kahneman, Eric S. Maskin, Daniel McFadden, Paul Milgrom, Roger Myerson, Edmund S. Phelps, Paul Romer, William Sharpe, Robert Shiller, Christopher Sims, Robert Solow, and Joseph Stiglitz. https://fortune.com/2021/09/21/nobel...k-better-plan/
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[2][3][4] (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered by the Nobel Foundation.
Although not one of the five Nobel Prizes which were established by Alfred Nobel's will in 1895,[5] it is commonly referred to as the Nobel Prize in Economics.[6] The winners of the Nobel Memorial Prize in Economic Sciences are chosen in a similar way, are announced along with the Nobel Prize recipients, and the prize is presented at the Nobel Prize Award Ceremony.[7]
The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary.
Biden’s Covid relief plan PPP has now become the biggest fraud scheme in our country’s history
Hundreds of billions tapped by both domestic and international fraudsters due to government incompetence.
Biden’s Covid relief plan PPP has now become the biggest fraud scheme in our country’s history
Hundreds of billions tapped by both domestic and international fraudsters due to government incompetence.
Many who participated in what prosecutors are calling the largest fraud in U.S. history — the theft of hundreds of billions of dollars in taxpayer money intended to help those harmed by the coronavirus pandemic — couldn’t resist purchasing luxury automobiles. Also mansions, private jet flights and swanky vacations.
They came into their riches by participating in what experts say is the theft of as much as $80 billion — or about 10 percent — of the $800 billion handed out in a Covid relief plan known as the Paycheck Protection Program, or PPP. That’s on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion Covid unemployment relief program — at least half taken by international fraudsters — as NBC News reported last year. And another $80 billion potentially pilfered from a separate Covid disaster relief program.
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