Bidenomics: The Left’s Latest Alibi

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Riddick
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Bidenomics: The Left’s Latest Alibi

Post by Riddick » 06-14-2022 03:39 PM

According to the White House and the legacy media, record inflation, skyrocketing gas prices, GDP shrinkage, collapsing supply chain, and dizzying descent of the stock market don't matter.

The real problem bedeviling the economy is bad vibes.

The idea here is to create a narrative whereby an increasingly likely recession will have been caused not by Biden admin blunders and wild Democratic spending but by irrationally anxious consumers being manipulated by evil Republicans.

This whole concept is nothing more than a rebranded version of the pseudo-scientific Keynesian notion that in times of stress our ability to think rationally is compromised by “animal spirits.”

Not coincidentally, Keynes believed the solution to this was intervention in the economy by government. No one but Paul Krugman believes this nonsense in 2022.

The problem with the economy isn’t bad vibes, it's about too much government spending and interference in private industry, & incompetent leadership. This would be useful to remember in November. FULL STORY
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