I remember when supply siders actually understood that demand was a creation of supply. Now, with an eye on getting published they promote Keynesian notions of gov’t magically creating demand alongside Friedmanite ideas about M2 that they used to ridicule. #sayanything
— John Tamny (@johntamny) July 26, 2022
It should be no wonder to the mildly sentient why prices are higher today than they were in February of 2020. The real question should be how prices across a huge market basket of goods and a wide and diverse spectrum of services were so remarkably low before we did the unthinkable, lock down the world.
It was a global lockdown because other countries, especially the Europeans, are attempting to copy what the U.S. is doing.
When politicians in the United States do something stupid like shutting down commerce’s wheels, you can expect others to follow their lead.
It’s still hard for me to understand. They came from all walks, including Brazil, Canada, Spain, Saint Pierre, Belgium, Brazil, Spain, Portugal, and even Canada. They believed that they could make crucial decisions that would impact the global economy of $100 trillion.
This was done by causing huge damage to billions of lives, particularly in the developing world. This caused hundreds of thousands to lose their jobs and even die as a result of an international “health emergency” and an internationally coordinated COVID program of forced poverty.
We come from the government and are here to assist…
It is said that if America gets the sniffles, the rest of the world will also get a cold.
This old saying does not refer to infectious diseases. This old saying is not about infectious diseases.
If Americans choose to stay at home and not sell, buy, produce or consume, then thousands, if not millions, of Third World workers such as those in El Salvador, Bangladesh, Nicaragua, Honduras, Nicaragua, Honduras, Nicaragua, Honduras, Nicaragua, Honduras, and Nicaragua will be without work, hope and eventually out of existence.
According to the Federal Reserve’s Brain Trust inflation occurs when too many people spend too much money and work too hard.
Not content with the fact global economic lockdown has led to millions of people living in poverty in the poorest nations of the world, and many of these experts are now saying “Shut it All Off” for the easy money, and easy credit.
The Trust decided to turn off the music and remove the punch bowl.
The Fed’s 12 Trust Busters declare that America is at risk of becoming less prosperous.
It’s time to destroy the housing market. We’ll find out how many people are affected in Silicon Valley or Martha’s Vineyard.
The “expert” class and economic austerity saved the day once again. They won’t blame the milder pandemic virus, but the Consumer Price Index or Vladimir Putin.
Tens of thousands of Americans may close down their businesses. Many even die.
We don’t know. These “experts” may be wrong, unlike previous experts who believed that higher unemployment was the cure for inflation and could be achieved by manufacturing recession.
They don’t. Experts insisting on running the world are often wrong about almost everything.
Just like the answer to bad, negative, or ugly speech is more positive and uplifting speech. Or just like the answer to some people getting Covid is more people getting Covid until herd immunity is achieved, the answer to rising prices is more private-sector productivity and production, and ultimately more economic growth and wealth creation.
There is no such thing, however, as less prosperity. There’s always more.
Joe Armendariz is the Director of Government Affairs for Armendariz Partners. He is a former two-term member of the Carpinteria City Council and the former Executive Director of the Santa Barbara County Taxpayers Association, and Santa Barbara Technology and Industry Association. He is Chairman of the California Center for Public Policy. He can be reached at 805.990-2494