by Sundance at The Conservative Treehouse
I do not expect White House Spokesperson Jennifer Psaki to understand how her bosses policies are driving massive price increases; nor do I expect Psaki to understand economics and inflationary impacts. However, the scale of her false statements surrounding inflation are not just false, they are now dangerous.
Following the release of the consumer price index [SEE table 2], in her press briefing today, Jen Psaki outlined the White House perspective on inflation, and specifically the Fed claims surrounding “transitory inflation.”
In her statements today, Psaki referenced people comparing the prices of 2021 consumable goods to 2020 and 2019. [Video prompted below] Within the statements, the scale of falsity is off the charts. WATCH [Video at 19:00 to 22:42, prompted]
There is not one single thing about that three minute verbal exchange that is accurate. Fast turn consumable goods, groceries etc., did not drop in 2020 during the first year of the pandemic. Factually, all goods but especially consumable goods increased in price throughout the pandemic, because demand actually increased and the supply chains were unable to keep up.
Example. A loaf of bread at $2.50 in 2019, climbed to $3.00 in 2020. That price jumped again to $3.75 this year (2021) and will likely continue rising as monetary policy driven inflation continues devaluing our currency.
Even if, as Psaki claims, inflation slows down (not likely) – “decelerating inflation” does not mean declining prices; it means a slower rate of price increase. Stuff still costs more, it just costs more at a slower rate. Consumable goods will cost more in 2022 than they do this year. The 2022 loaf of bread likely to climb to $4.00; it will never return to the 2019 price of $2.50 because the dollar is worth less.
♦ Ask the White House: Why did Joe Biden increase food assistance benefits by 25% if inflation was transitory?
[The Consumer Price Index was released today. The producer price index for Sept will be released tomorrow]
This massive inflation is a direct result of the multinational agenda of the Biden administration in combination with the spending spree. Inflation is a feature not a flaw, and it has nothing whatsoever to do with COVID. The first group to admit what was obvious were banks, specifically Bank of America, because the monetary policy is the primary cause.
You might remember, when President Trump initiated tariffs against China (steel, aluminum and more), Southeast Asia (product specific), Europe (steel, aluminum and direct products), Canada (steel, aluminum, lumber and dairy specifics), the financial pundits screamed at the top of their lungs that consumer prices were going to skyrocket. They didn’t. CTH knew they wouldn’t because essentially those trading partners responded in the exact same way the U.S. did decades ago when the import/export dynamic was reversed.
Trump’s massive, and in some instances targeted, import tariffs against China, SE Asia, Canada and the EU not only did not increase prices, the prices of the goods in the U.S. actually dropped. Trump’s policies led the largest deflation in consumer prices in decades. At the same time, Trump’s domestic economic policies drove employment and wages higher than any time in the past forty years.
With Donald Trump’s policies, we were in an era where job growth was strong, wages were rising and consumer prices were falling. The net result was more disposable income for the middle class, more demand for stuff, and ultimately that’s why the U.S. economy was so strong.
♦Going Deep – To retain their position, China and the EU responded to U.S. tariffs by devaluing their currency as an offset to higher prices. It started with China, because their economy is so dependent on exports to the U.S…
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