re: Wall Street Journal: How the Fed and the Biden Administration Got Inflation Wrong

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The use of Mr. instead of President or just Obama/Biden/Trump is off-putting.

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It's a stupid way of identifying they're"not your president."

Still not sure why the fed has been running low interest rates for over a decade. That should have been dialed back last year of Obama term.

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Pootins price hike is killing us

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It is insane that the "most powerful economy in the world" is being absolutely crushed by the might of Russia as a side effect of their campaign.

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It wasn’t just a mistake or misread of the economy. They’re so hellbent on their ideology they could care less what it does to other people as long as they get their way. They’re pure evil.

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But Trump asked for another 2,000....?

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Trump should have let States and cities that locked down, suffer on their own.

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They were banking on a bail out.

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Which was dumb.

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agreed , my assertion is that Trump is not an ideologue even when he was right and certainly when wrong


I dont think populism is really an ideology

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In progressive circles, some lawmakers embraced the ideas of “modern monetary theory,” which posited that as long as inflation was low, there was no limit to how much Washington could borrow.

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You don't have to have a master's degree in economics to see this is not sound policy.

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This is a major problem in modern economics… an extremely large portion of our economist class are nothing more than blind data junkies. All they know how to do is collect data, plug it into a model someone else built, and trust the result. The critical thinking portion of economics isn’t being taught anymore, so our professional economists don’t know how to do it.

Anyone paying attention could see that a major supply crunch would create inflationary pressures even before the Fed added extra demand. But one guesser in Chicago builds a “model” that replicates the exact same dynamics from the last 20 years, all of these data junkies blindly “trust the science”, and no one even thinks to ask, “is this time different?”

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This is the exact same issue we have in the medical field. Our physicians are no longer taught how to question conclusions and develop their critical thinking.

They just follow the academy guidelines and parrot the academic conclusions. However, all the academic conclusions are being made by physicians and PhD’s that have never had a clinical practice or worked with patients directly.

It’s scary. I fear for our future with this mindset.

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I think everyone with basic math and reasoning skills understood what would happen when you print $10 trillion, shut down the economy for no reason, and do everything possible to increase gas prices

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We found out modern monetary theory is bullshite, which most of us already knew.

I remember the democrats laughing at projections of inflation.

That is a quantum physics version of word salad, intended to rationalize Biden’s insane policy. The Poliboard could do better. Trump knew that OIL was a key in the economic engine. Real employment as well, with productivity bringing REAL benefits. Infrastructure at the fore, which the Dems blocked because they knew how great that would work. F the WSJ; they are part of the Progressive propaganda mechanism.