In a new narrative message that is starting to spread within the mainstream media, the latest increase in the official CPI print leads Joe Biden to attempt a fumbling deflection by claiming inflation will only “get worse under Republicans.” To be fair, stagflationary conditions are mostly a product of long time stimulus policies initiated by the Federal Reserve, which is an independent entity that has the ability to create and inflate money at will without oversight (as former chairman Alan Greenspan openly admits HERE).
Tens of trillions of fiat dollars have been injected into the US economy to keep “too big to fail” companies on artificial life support over the past 14 years, and perhaps the greatest impetus for the inflation explosion was the covid pandemic stimulus response, which was the definition of “helicopter money.” The measures pumped at least $8 trillion into the system from 2020 to 2021.
Multiple presidents have sat in silence while the Fed created the massive monetary bubble, and this includes Donald Trump. However, Biden and the Democrats were in the White House for ten of those 14 years. It was also the democrats that pushed for unnecessary extended lockdowns and created the “need” for covid stimulus in the first place. It is the democrats that continually demand bigger spending budgets and infrastructure programs that can only be funded by the central bank printing more money. The idea that Republicans will “make inflation worse” has no basis in reality.
The propaganda does suggest, though, that Dems are preparing for a major loss in November. They know that the economic declines they have helped create will bleed over into 2023 and that there’s nothing that conservatives can do about it, at least initially. This is the double edged sword of a potential red sweep in November – If conservatives win big, they will also be set up as scapegoats for the economic crisis that is set to unfold in the next year. Whether or not the public believes such a story us another matter.
