Jimmy Carter Era: Consumer Prices and Wages are climbing at the fastest rate since the 1980s as businesses scramble to attract workers – June 4, 2021,
One of the reasons Ronald Reagan became the 40th U.S. President of the United States in the 1980s was to tackle inflation. Oddly enough, Jimmy Carter became President because an Oliver Stone recommended President by the name of Richard Nixon became for a time one of the most hated Presidents in U.S history via the Watergate Scandal.
Most people compare Donald Trump to Ronald Reagan, whereas I see more similarities between Donald Trump and Richard Nixon. Inflation was a huge problem when Jimmy Carter was president and even back then, the media attempted but failed to give a positive spin to Jimmy Carter.
But the truth is Jimmy Carter was a lot like Joe Biden, people hated Nixon more than they liked Jimmy Carter, American voters didn’t even analyze Jimmy Carter, it was one of those things where the American voter was tired of Richard Nixon and the Republicans hadn’t found his replacement yet.
A lot of Americans loved Barack Obama, and Joe Biden was lucky enough to be Obama’s shoeshine boy, but if you look at Joe Biden’s history, he has no better days, he was always punching above his weight class. That aside, although the circumstances differ a bit, Joe Bidens presidency is reminding a lot of us of Jimmy Carter.
Now, the article below was obviously written to make Joe Biden look good, but it ignores consumer price inflation, which is the real reason why businesses are finding ways to pay people more money. The good news for Joe Biden is that Leftists for some strange reason like paying higher prices for things.
So the headline below will be enough for most Leftist ideologues, the bad news is that we all know poverty is set to explode. Businesses pass wages and costs onto consumers, that’s how this works, and what most people don’t understand is if every company raises their prices by 0.25cents and the average wage increase is $0.15 cents who wins and who loses?
We all know why Leftists want to control the education system, all I will say to those of you who know what’s going on, now is a good time to make smart investments. Obama’s stupidity made the poor poorer and turned millionaires into Billionaires. I’ve made the argument that Joe Biden is probably the dumbest president in U.S history. I’d love it if Joe Biden took an IQ test, I’d even pay for it or support any charity serious about making it happen.
Although the worker got a $0.15 increase, I don’t think it’s going to be enough to get people off of the UBI bandwagon, which means consumer prices will probably continue to rise, which again I like to point out actually leads to economic deflation and price inflation.
Lots of people are still in debt, I think there’s a surge in mortgages, if the plunge protection team is real, there will be no fiat price deflation, meaning more fiat money will buy fewer goods and services. Now, sure by government calculations that the morons’ trust, this will read fiat price inflation as a positive for the economy and a positive for Joe Biden, but the reality will be that the economy is deflating.
Nobody in their right mind would say the Venezuelan economy is inflating, no the Bolivar is losing value, and to hide the deflation the government debases the currency, because during deflation if the currency holds its value, people hoard the currency, as an example I don’t care what the fiat markets say, I’m not selling my gold for government currency. If the government disincentivizes people from hoarding currency people spend or invest it.
Now, because Joe Biden is Joe Biden he is also disincentivizing investment, his commie-style economics is trying to push good money into green investments that will only yield a profit with a government corporatist welfare scheme. Tesla still hasn’t made a profit, sure its stock price is inflated, but it’s not a profitable company and that’s the shining star of green energy right, think about it.
Anyway, buffoonery has always existed in government, if you’re smart during these times as an investor it would be wise to skate to where the puck is going! Anyway, I think the article below is hilarious! give her a read won’t you!
Interesting times ahead!