
‘I’d be careful about that’
Bob Unurh
WND News Center
Inflation for hurting American consumers exploded under Joe Biden.
Just a little over a year ago, it was at 9.1% – costing people thousands of dollars a year more just to live the same lifestyle they had a year or two earlier.
The response was for the Federal Reserve to surge interest rates, which cost any consumer who has a credit card or financing for a car or home even more.
Even now, inflation is down from a year ago, but remains far above the government’s goal.
Blame it on Joe Biden.
That’s according to JP Morgan Chase CEO Jamie Dimon who was interviewed by the Economist.
A report at the Daily Mail confirmed that Dimon questioned the effectiveness of “Bidenomics,” previously known as “Bidenflation,” and “blamed Joe Biden’s $5 trillion economic stimulus for causing inflation.”
Biden has been scheming to raise a lot of taxes, especially on the wealthy “in order to invest in the middle class,” the report said.
That’s opposite the wildly successful plan used by President Ronald Reagan to grow the economy during his White House days.
“I’d be careful about that,” Dimon said of Biden’s agenda.
He said Bidenomics is more of an industrial policy, to help particular industries.
He’s opposed those in the past, but sees them now as usable within a few narrow confines like national security.
“If it relates to supersonic missiles, I think we should do it. If it relates to holding down the Chinese people, I think we shouldn’t do it,” Dimon said. “There shouldn’t be social policy around that, it shouldn’t be political it should be purely economic.”
He also was critical of Biden’s massive stimulus spending.
He has continued concerns with inflation, which spiked nearly to the double digits just a year ago. And while that rate has slowed somewhat, those price spikes that hit consumers so hard then now are the base level for the new price surges they are seeing now.
Biden, as the octogenarian campaigns for another four years in office, has been promoting his “Bidenomics,” which involves a lot more taxes.
However, polling shows Americans widely dissatisfied and unhappy with Biden’s work on the economy. Nearly half have confirmed they are “a lot worse off” since Biden took office and largely abandoned economic goals of President Trump.
Biden’s first term has focused largely on promoting the LGBT, specifically the transgender, ideology, as well as abortion.
Also read:
- Welfare check leads to discovery of apparent murder-suicide in OrchardsTragic murder-suicide in Orchards: Five family members found dead, including the suspect, in a residence on NE 93rd Street; Clark County Sheriff’s Office investigating.
- Vancouver Fire crews extinguish shop fireOn Saturday (Dec. 2) at about 4:45 p.m., the Vancouver Fire Department was called to a report of a shop fire at 20718 NE 83rd Street.
- Tunnel model for Interstate crossing exposes more IBR flawsRetired engineers Wallis and Rowe challenge the $7.5-billion Interstate Bridge Replacement (IBR) proposal, presenting an immersed tube tunnel model that offers superior connectivity and safety, contradicting the IBR team’s claims at a recent open house in Vancouver.
- WAGOP files ethics complaint against SoS Hobbs over social media monitoringWashington Secretary of State Steve Hobbs is facing a complaint filed with the Washington State Executive Ethics Board.
- White House pressured YouTube to ‘crack down on vaccine misinformation’President Joe Biden’s administration exerted pressure on Google-owned YouTube to suppress COVID-19 vaccine information, documents obtained by the House Judiciary Committee show.
- Importance of open government laws on display with shocking storiesJason Mercier of the Mountain States Policy Center discusses two recent stories that illustrate the lengths that some public officials will go to evade public accountability.
- State arm wrestling championships ready to flex Saturday in VancouverArmSports Entertainment, founded and owned by a Clark County arm wrestler, is hosting more than 300 competitors for the Washington State Arm Wrestling Championships at Kiggins Theater on Saturday.