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I am old, but I can vaguely remember a time long ago in a galaxy far, far away when incompetent government employees were fired for making a series of critical mistakes.
Nobody is accountable anymore, at any level. The more you mess up, the more power they give you.
Powell tried and tried to create inflation, but the economy stubbornly resisted. Inflation is good for anyone who is in deep debt, such as the US government.
FINALLY, Powell's efforts paid off and we started to see a little inflation. What a relief! Powell assured us that it was nothing to worry about, merely transitory.
Then inflation got worse. And worse. Oops. Inflation might be good for those in debt, but it's bad for everyone else.
So Biden decided the person he could trust to fix inflation was Powell. But, uh, wasn't it Powell who did his very best to create inflation?
I’m convinced that Joe Biden and his administration want inflation and high energy prices, as Democrats tend to love to cause misery and then use it as an opportunity to advance their agenda. Although after seeing Joe Biden’s cue cards, I’m not sure he even knows what day it is.
Well they have made it clear they want high energy prices. They have done their best to drive up prices by restricting supply. And they thought that wouldn't affect the rest of the economy?
Even Larry Summers, the liberal economist thought it would.
last week BARRON'S interview him,he thinks we will have a recession and commodity driven inflation will stay
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