Armstrong Econmics Blog/Economics Re-Posted Nov 17, 2021 by Martin Armstrong
Biden acknowledged that he does not understand economics or what is driving inflation. “Today, I am here to talk about one of the most prescient economic concerns of the American people … and that is getting prices down, number one,” Biden stated. “Number two, making sure our stores are fully stocked. And number three, getting a lot of people back to work while tracking and tackling these two above challenges.”
People need to get back to work before prices drop. The Federal Reserve and countless analysts have voiced this concern. Maximum employment equals a decline in inflation! In order to fully stock our stores, we will need workers to fix the supply chain crisis. We need workers to unload the cargo ships, truckers to drive goods, and warehouse and retail employees to supply those goods to the consumer. Biden cannot magically reduce inflation without addressing the real issues at hand.
“Too many people remain unsettled about the economy, and we all know why,” Biden said. “They see higher prices. They go to the store or go online, they can’t find what they always want, and when they want it. We’re tracking these issues and trying to figure out how to tackle them head on.” Too many people are understandably unsettled that our president does not understand inflation. Eliminate vaccine and mask mandates as thousands of workers have or plan to leave the workforce for this precise reason. Stop taxing workers to fund infinite spending plans. Reduce taxes in all areas to provide citizens with a better quality of life. The Biden Administration is acting as if they are completely helpless when they have the tools to fix this crisis.