Inflation—felt as rising prices yet really a sinking dollar—is politically lethal. Most politicians mishandle it. It’s that insidious.
President Biden? You are a self-proclaimed champion of capitalism and equity. So, now, pivot to good monetary policy to preempt “all the hidden forces of economic law” from settling “on the side of destruction.”
Do not end up like the hapless Jimmy Carter. As I wrote here in Will President Biden Keep Inflation from Destroying Capitalism:
Carter, in a national address, on October 24, 1978:
“Inflation is obviously a serious problem. What is the solution? I do not have all the answers. Nobody does. Perhaps there is no complete and adequate answer.”
Balderdash. Top economists like Friedman and Mundell knew precisely what causes inflation. We then knew and still know the solution.
Read the Full Article here: https://www.newsmax.com/ralphbenko/inflation-biden-democrats/2021/11/16/id/1044880/