Out with one clueless press secretary and in with another.
That’s right: It appears that Jean-Pierre is just as eager to promote propaganda as Psaki, with each new revelation being more unbelievable than the last.
White House Press Secretary Karine Jean-Pierre apparently thinks that the highest inflation in 40 years, coupled with the highest gas prices in history, even when accounting for inflation, represents the country being in “a good position.”
Literally, that phrase was used.
“What I’m trying to say to you is that the economy is in a better place than it has been historically. And so, we feel, here at this administration and other experts as well… we feel that we are in a good position to take on inflation. We are in a good position to really start really working on lowering prices,” Jean-Pierre proclaimed.
So glad to know that the administration “feels” they are in a good place to take on the same “transitory” inflation, which has yet to be “transitory” at all.
Feelings … the most compelling argument of all time to the ultra-left, it appears.
In fact, quite the opposite appears to be occurring, per a recent report from the World Bank, entitled “Global Economic Prospects.”
“The global economy is in the midst of a sharp growth slowdown following the extraordinarily strong rebound last year. This slowdown coincides with a steep runup in global inflation to multi-decade highs. Looking ahead, growth over the next decade is expected to be considerably weaker than over the past two decades,” the report noted.
Don’t worry, World Bank.
Since Biden’s first LGBTQ, black, female press secretary “feels” the even more clueless president is in “a good position” to reduce inflation, then imminent economic improvements must be true!
Unfortunately, however, feelings fail to constitute a viable argument.
Even more unfortunately, the dire news from the World Bank is quite viable, especially as long as Democrats continue to careen the nation (deliberately?) out of control.
“However, if inflation expectations de-anchor, as they did in the 1970s, as a result of persistently elevated inflation and repeated inflationary shocks, the interest rate increases required to bring inflation back to target will be greater than those currently anticipated by financial markets,” the World Bank continued ominously.
You don’t say.
At some point, Powell will abruptly jack the interest rates, as he probably should have over a year ago, and once he does that well … the “shocks” indeed may be even more devastating than rampant inflation.
After all, inflation alone is already causing massive pain to Americans, even inspiring other dubious movements as companies scramble to survive in Biden’s America.
One such movement includes “shrinkflation,” as reported by the Daily Mail.
Not only are products more expensive, but they are also deliberately smaller, representing a double whammy of losses for the consumer.
“Notable brands to ‘shrink-flate’ their products in recent months as the American dollar continues to lessen in value include Charmin, Bounty, and Gatorade, which have all been downsized in recent months but have retained their previous prices,” the Daily Mail intoned.
Get ready for the White House to start bullying General Mills the same way it’s bullying energy companies, which has achieved nothing but distracting from real solutions.
Of course, Jean-Pierre offers zero insight into how Biden will apparently be in a “position” to counter that of the World Bank’s, but neither Psaki nor Jean-Pierre appears to ever face any accountability of any kind for their non-responses.
Just keep on turning out that propaganda.
Former Treasury Secretary Larry Summers provides a vastly more realistic perspective on the economy, albeit a bleaker one.
“If I thought we could sustainably run the economy in a red-hot way, that would be a wonderful thing, but the consequence – and this is the excruciating lesson we learned in the 1970s – of an overheating economy is not merely elevated inflation, but constantly rising inflation,” Summers warned.
Adding to the excruciation includes the bald-faced lies told by the latest propagandist masquerading as a “transparent” press secretary.
Author: Ofelia Thornton