Friday, December 1, 2023

Biden Confuses Lower Inflation With Lower Prices

Click here to read the original Cautious Optimism Facebook post with comments

The Cautious Optimism Economics Correspondent realizes this is like shooting senile fish in a barrel, but Joe Biden doesn’t seem to understand that “lower inflation” means prices are still rising, including costs for evil corporations. If he really wants to see companies lower prices he should urge Democrats in Congress to change the Federal Reserve’s mandate to abandon its +2% annual inflation target, pursue mild "deflation" (i.e. lower prices), and slow its expansion of the money supply over the long term to something below the rate of growth of real goods and services. 

Meanwhile here's reminding Joe that "lower inflation" means "prices are still rising, but the rate of increase is slower than it was before."

Read "Biden says inflation is down and companies should lower costs: 'It's time to stop the price gouging'" at...

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.