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Hey, Is That Jimmy Carter In The White House?

Unleash Prosperity Hotline – Weekend Edition
Issue #367
09/10/2021, 09/11/2021, 09/12/2021
1) Hey, Is That Jimmy Carter In The White House?

The economic whizz kids at the White House and Federal Reserve Chairman Jerome Powell keep saying inflation is “transitory.” But Friday morning’s Producer Price Index report shows an 8.3% rise for the 12 months. DOL Says that’s “the largest annual increase since the Labor Department started measuring this price indicator in 2011.”

We would make a strong guess that this is the highest annual increase since Jimmy Carter sat in the Oval Office and presided over double digit inflation and ‘70s stagflation.

One interesting tidbit from the data: the producer prices soared highest for warehousing and transportation. Those prices have scooted up 2% per month for the past three months (on an annualized basis that’s near 25%). Gee, we wonder why these costs are rising so fast. Oh yeah. There are no truckers and warehousing workers available because of Biden’s imbecilic policy of paying people NOT to work.

Does it Look Like Inflation Is Going Away?

Lord what fools these mortals be.
2) She Said It

Biden’s Treasury Secretary Janet Yellen:

“I respectfully urge Congress to protect the full faith and credit of the United States by acting as soon as possible.”

We couldn’t agree more madam Secretary. Borrowing $4.5 trillion more on give-away spending bills is the height of fiscal idiocy and would risk the full faith and credit of the United States government. Please tell your boss that!

Oh, wait. She means that Congress should raise the debt ceiling by multi-trillions of dollars. How does this stop the debt crisis? Sounds more like “enabling.” 

This got us to wondering: were the debt and monetary crises in nations like Mexico, Greece, Argentina, Venezuela, and Zimbabwe caused by their legislatures not raising their debt ceilings? Or was it that their politicians spent and borrowed way, way too much money?

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