If your number one issue is the cost of living, the number one priority should be seeing Congress pass these bills. Seventeen Nobel Prize winners in economics have said — spontaneously wrote to me, together, and said this will lower inflationary pressure on the economy when we pass my bills.Joe Biden
First off, if anyone says that increasing the money supply will reduce inflation, they are an idiot and everything else they say should probably be ignored.
As the great economist, Ludwig Von Mises said, “…when a government increases the quantity of paper money (or digital nowadays-GAM1776), the result is that the purchasing power of the monetary unit begins to drop, and so prices rise. This is called inflation.
Unfortunately, in the United States, as well as in other countries, some people prefer to attribute the cause of inflation not to an increase in the quantity of money but, rather, to the rise in prices.” (Emphasis mine)
What Mises said is just common sense.
Why else is increasing the money supply out of thin air a bad thing?
Increases in the money supply set in motion an exchange of nothing for something. They divert real funding away from wealth generators toward the holders of the newly created money. This is what sets in motion the misallocation of resources, not price rises as such. Moreover, the beneficiaries of the newly created money–i.e., money “out of thin air”–are always the first recipients of money, for they can divert a greater portion of wealth to themselves. Obviously, those who either don’t receive any of the newly created money or get it last will find that what is left for them is a diminished portion of the real pool of funding.Ludwig Von Mises
Furthermore, real incomes fall, not because of general rises in prices, but because of increases in money supply; in other words, inflation depletes the real pool of funding, thereby undermining the production of real wealth– i.e., lowering real incomes. General increases in prices, which follow increases in money supply, only point to the erosion of money’s purchasing power–although general rises in prices by themselves do not undermine the formation of real wealth as such.Ludwig Von Mises
Read more about the real definition of inflation here.
The Bureau of Labor Statistics October 14, 2021, press release tells us, “The Producer Price Index for final demand increased 0.5 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.7 percent in August and 1.0 percent in July. On an unadjusted basis, the final demand index rose 8.6 percent for the 12 months ended in September, the largest advance since 12-month data were first calculated in November 2010.” (Emphasis mine)
Thanks to Joe Biden, the Socialist (Democrat) Party, and all of those (I’ll be kind here) “misguided and ill-informed” people who voted for them, every dollar you earn or have saved is now worth significantly less than it was a year ago when Trump was still President.
How did all of this happen?
Quite simply, if you voted for the Democrats it’s your fault.
It’s also because Biden and his allies in Government (including idiot Republicans like my Congressman Andrew Garbarino who voted for his trillion-dollar “infrastructure” bill) hate America whether they know it or not.
Anyone who supports destroying the American Economy and the American family by voting for, or advocating on behalf of, any of the economic policies of Biden and his Socialist allies needs to be continuously called out for the contempt they are showing for this country’s well-being.
But the average American family doesn’t need fancy government statistics or charts to tell them what’s going on and how much of a hurting Biden and his friends are putting on them.
They see it every day when they fuel up their car to get to their job where their salary, although it hasn’t changed on paper, is worth less than it was just 12 short months ago.
When the American worker who was relying on their 3% raise this year to help them get ahead, knows full well that, thanks to Biden and his gang, that raise isn’t going to cut it.
Or that couple who wanted to retire this year after decade upon decade of working hard, and saving every nickel possible, realizes that thanks to Biden and his gang, they can’t.
Or when those minority families who saw such unprecedented economic growth under Trump, see all of those gains disappear at the hands of the people who they, for some inexplicable reason, continue to vote for.
The only way out of this mess is to get rid of the people causing it and to make sure that they never, ever, get a chance to cause such havoc again.
We can only do this by ensuring that our elections are secure by implementing some common-sense laws across the country.
Like requiring voter ID.
Any politician who is against voter ID should never be elected to office again.
By eliminating mail-in ballots.
That’s right. Eliminating. I’m not talking about absentee ballots for when you legitimately can’t get to the poll, but mail-in ballots as an alternative for actually getting off your ass and going to vote.
By making Election Day a national holiday.
Why not? We now have a fake holiday called “Juneteenth” so why not a day that will remove time to vote as an excuse for people?
By making Election Day just that…a day. And stop all of this early voting nonsense.
But if you are really stuck on keeping early voting, then we need to make it possible for people to be able to change their votes before Election Day.
By electing the right people we can ensure that this mess never happens again.
Read other posts here.